Deeds in Trust
YORKVILLE AND KENDALL COUNTY QUIT CLAIM DEED IN TRUST ATTORNEY: PREPARATION OF QUIT CLAIM DEEDS FOR LIVING TRUST
What is a Quit Claim Deed?
A Quit Claim Deed conveys real estate title to another person. Unlike a Warranty Deed, a Quit Claim Deed fails to guarantee that the person has good title. A Quit Claim Deed conveys the title exactly as the person or entity has. There are several reasons why one would consider a Quit Claim Deed, including the following:
- To convey or remove title so another party can refinance and get a mortgage in their name (and generally out of the other person’s name);
- To add a friend or family member (such as a spouse) to their house and real estate title;
- To transfer an investment or vacation property to their LLC or Corporation;
- To transfer their real estate to their Revocable Living Trust or otherwise known as a “Living Trust”;
- To change the character of property ownership such as by tenants by entirety versus joint tenants;
- To transfer property to a child or adult children;
- To clear up real estate title issue(s);
What is a Deed in Trust?
A Deed in Trust is simply a transfer of real estate to a person’s Living Trust. Unlike a Quit Claim Deed, a Deed in Trust is the real estate form used to re-title somebody’s home or investment property into their own Living Trust. The purpose of the Deed in Trust is to re-title an asset to avoid probate court. With a Living Trust, it is vital to properly fund one’s trust which typically includes transferring one’s real estate interest into their respective Living Trust.
Gateville Real Estate, LLC concentrates in the areas of residential real estate and prepares real estate title transfers documents such as Quit Claim Deeds, Deeds in Trust, Trustee Deeds, and Administrator’s Deed among many other real estate deeds. Our law office is located in Yorkville and Naperville, Illinois and we assist individuals and real estate owners with their real estate, estate planning, and business formation issues.
EXPERIENCED QUIT CLAIM DEED AND REAL ESTATE ATTORNEYS IN OSWEGO, YORKVILLE, AND KENDALL COUNTY
Unlike most real estate attorneys, Gateville Real Estate, LLC concentrates in real estate, estate planning and asset protection law. Most real estate lawyers understand real estate closings, but do not understand how Limited Liability Corporations and S corporations or Revocable Living Trust impact real estate ownership. Gateville Real Estate, LLC understands the difficult issues surrounding real estate ownership and assists real estate owners with their real estate legal needs. Gateville Real Estate, LLC may be reached at 630-553-9560 or via online contact form.