How do I change vesting title to 50 % of trust name (John Doe family trust) and 50 % to my daughter's name ?
3 attorney answers
My colleagues are correct in the mechanism for changing title. The question is why you want titlethat particular way. It actually complicates the issue and leads to a potential reassessment by the county assessor. Better to leave title 100% in the trust and make your daughter a beneficiary. Consult an estate planning attorney for the trust mechanism.
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The previous answer is correct: record a quitclaim deed or grant deed from how title is vested now to how you want the title to read. It will be recorded at the county recorder's office of the county where the property is located, and a preliminary change of ownership report should be filed at the same time.
If you are going to draft the documents yourself, I suggest you have it reviewed by an estate planning attorney to confirm it is correct, as well as to advise you as to the reasons why you may NOT want to do this.
Best to you.
I don't know if I fully understand your question, but it appears you are wanting to transfer title out of one name into two names. While your plan may not be a good choice for many reasons, the answer to your question is to record a "quitclaim deed" with the county recorder's office transsfering the property out of the current title to "John Doe, as trustee of the John Doe Family Trust with an undivided 50 percent interest, and NAME with an undivided 50 percent interest, all as Tenants in common to the real property commonly known as ADDRESS.
Make sure the Quitclaim deed has a legal description along with the county's parcel number.
The Quitclaim deed needs to be notarized, and you need to record a "Preliminary Change of Ownership Report (PCOR)" with the county where the real property is located.
This may sound like a simple process, but it is not. You shoud consult with an attorney to make certain the transaction makes sense and it is properly transferred. I've seen many mistakes made by people doing their own deeds that end up costing thousands later in litigation.
I hope this helps.
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