Q: Which deed to use for transferring property to a revocable living trust in Virginia?
I own a fully paid-off property in Henrico, VA, purchased with cash and confirmed to have no liens through a thorough title search and title insurance. I want to transfer this property to a revocable living trust I recently established to avoid probate. Could you advise on whether a Quitclaim deed or a Warranty deed would be more appropriate for this transfer? No specific concerns exist about the property, and I haven't yet consulted any legal advisors.
A: Hire a VA attorney to draft that Deed. It must go to the Trustee with specific language so that he can convey the property later without question. Your Trust needs to be examined for enforceability, but probably does not exist until corpus is conveyed to the Trustee. QCD or WD is irrelevant unless you think the Trustee is going to sue the Grantor for breach of covenants of title. They are probably the same person.
A:
For transferring your property to a revocable living trust in Virginia, a Quitclaim deed is typically the more appropriate option. A Quitclaim deed transfers ownership without making any guarantees about the title, which is suitable in your case since the property is already free of liens and there are no specific concerns. It’s a straightforward way to transfer property to a trust, as the deed simply transfers the interest you hold in the property.
A Warranty deed, on the other hand, offers additional protection to the recipient by guaranteeing that the title is clear and free from encumbrances, which isn’t necessary in your situation since you’ve already confirmed the property’s status through a title search and title insurance.
Transferring the property through a Quitclaim deed is a common and efficient way to fund a revocable living trust. However, before proceeding, it’s always a good idea to confirm the process with a legal professional to ensure everything is handled correctly.
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