Timeline for Quit Claim to Revocable Living Trust

[cmore299]

What is the name of your state (only U.S. law)? Iowa

I'm in a crunch to file a Quit Claim Deed. I have decided to assign the Grantee to a Revocable Living Trust and have my father as the Trustee. The Trust documents are SIGNED and notarized, but need to be filed in another state. And the property in Iowa is having the QCD filed in this county, with signed and notarized document.

My Question, Is the Quit Claim Deed valid if recorded to the county in this state. If the actual paperwork for the Trust is not recorded in the other state, but both are signed and notarized?? Can someone contest the validity of my trust if I were sued later, because the date for the QCD actual recording was earlier than the recorded date for the Trust. But the Trust was signed and notarized at an earlier date, just not recorded b4 the QCD??

Thanks for the help.

 

[tranquility]

Where and why do you record a trust?

 

[cmore299]

I was under the impression that I had to file a copy of the trust with the county that I reside in and claim is my homestead. The property in Iowa to be QCD is a second home. So you are saying that there is no record to the county? We only provide the short Certificate of Trust document to the bank and third party, once funded.

 

[tranquility]

To be valid, a trust does not need to be recorded. There may be state or county specific statutes which provide a benefit from the registration/recordation of a trust (like homestead protection), but that is not the norm and is why I asked.

Quit claim the property to the trust. (Warranty deed it over if you like and think you won't be the one to remove it from the trust.) Do what you will with the recording of the trust for whatever *other* purposes for the recording you have.

 

[cmore299]

Where were you last week when I had a zillion questions??....
Thanks for the clarification.
My bank said to use the Quitclaim generic form to move out of title. And the customer service person at the bank said that I needed to record the trust with the county. But all the bank is asking me for was the short Certificate of Trust. I called the county and they said the same thing, I can record the Trust, but if it is signed and notarized it is valid. That's what I get for listening to a customer service person at the bank.

One last question on the QCD, I put in the place of the Grantee- "John Doe Trust", but read something that said I am supposed have worded it "John Doe, trustee to John Doe Trust".... Which is correct

Thanks again for your help on this, you saved me a ton of time.

 

[tranquility]

A warranty deed is better as it will prevent any potential problems in title at a later date if you're gone.

I don't do deeds. We hire people to do deeds. While I can answer you based on the number of deeds I see, I know deeds are forever and that little, insignificant things, make a big difference. I advise you to hire someone to do the deed.

However, I'm sure someone will advise you on the question.

 

[HomeGuru]

What is the name of your state (only U.S. law)? Iowa

I'm in a crunch to file a Quit Claim Deed. I have decided to assign the Grantee to a Revocable Living Trust and have my father as the Trustee. The Trust documents are SIGNED and notarized, but need to be filed in another state. And the property in Iowa is having the QCD filed in this county, with signed and notarized document.

My Question, Is the Quit Claim Deed valid if recorded to the county in this state. If the actual paperwork for the Trust is not recorded in the other state, but both are signed and notarized?? Can someone contest the validity of my trust if I were sued later, because the date for the QCD actual recording was earlier than the recorded date for the Trust. But the Trust was signed and notarized at an earlier date, just not recorded b4 the QCD??

Thanks for the help.

**A: yes and yes so hire a good attorney.

 

[cmore299]

Thank you for your honesty. I was just using the generic QCD because the bank said that is what I can use to transfer. I was told by that same person at the bank that I could not use a warranty deed on this since I still have some mortgage left on the Iowa house. In definition and terms, I thought the wording on the Warranty Deed addressed my concerns better than a QCD. But again, I was listening to a customer serv rep at the bank. I am at the Iowa farm right now. But one of the only real estate lawyers in the nearest town is on vacation. And so I have been winging this QCD thing since Thursday for a quick resolution.

Thanks again for your help, maybe someone will see the post an know the proper way to word the Grantee. If not, I'll be making a road trip to see a lawyer....

 

[cmore299]

The mighty Guru knows all....

So I am covered on the Trust I have for the moment, until the lawyer I want to hire gets back into town to review. And as a Rev Liv Trust, I can make the changes that he recommends. But I HAVE to have a QCD or Warranty Deed filed by tomorrow. Does anyone know the proper wording of the Grantee to be filled in blank? And If I use the QCD I have that says "John Doe Trust" is the grantee, can "John Doe Trust" file a Warranty Deed later if that is what is recommended by the lawyer. Or do I need to scrap the QCD I have and do a Warranty Deed to start with. Questions Questions, Thanks all for your help.

 

[HomeGuru]

The mighty Guru knows all....

So I am covered on the Trust I have for the moment,

**A: don't know since I have not actually read the trust documents, title report, exhibits etc.

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until the lawyer I want to hire gets back into town to review. And as a Rev Liv Trust, I can make the changes that he recommends. But I HAVE to have a QCD or Warranty Deed filed by tomorrow. Does anyone know the proper wording of the Grantee to be filled in blank?


**A: yes, I know the proper wording but since I do not represent you, you need to get this info from your attorney



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And If I use the QCD I have that says "John Doe Trust" is the grantee, can "John Doe Trust" file a Warranty Deed later if that is what is recommended by the lawyer.


**A: yes but it would be a lame deed indeed.



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Or do I need to scrap the QCD I have and do a Warranty Deed to start with. Questions Questions, Thanks all for your help.

**A: use QCD.

 

[cmore299]

Guru strikes again....

Thanks for the 100th time for your "knowledge" not "recommendation" or however your trickery of words wants to put it. Guru does know all, wish you were in Iowa, I'd be over in 10 mins. I'll go with what I have on the QCD. When I retain PROFESSIONAL legal advice, changes can be made as needed.

 

[HomeGuru]

Guru strikes again....

Thanks for the 100th time for your "knowledge" not "recommendation" or however your trickery of words wants to put it. Guru does know all, wish you were in Iowa, I'd be over in 10 mins. I'll go with what I have on the QCD. When I retain PROFESSIONAL legal advice, changes can be made as needed.

**A: no you don't go with what you have, you seek legal counsel first.
Can you see more, cmore?

 

[cmore299]

**A: use QCD.

My glasses must be fogged up Guru, that looked like a "use QCD" to me... hehehe....

So that meant use the QCD instead of the WD, but do it after I get a lawyer, because the wording better be right b4 I file it************** And from the stop sign you put up, I don't have things right...... Thanks Guru, I have holted all attempts at this and will find an attorney somewhere today to take a look at this. I didn't want to file anything without an attorney looking at it anyways, just in a time crunch.

Thanks again for the 100000th time, Guru. You do know all....

 

[HomeGuru]

My glasses must be fogged up Guru, that looked like a "use QCD" to me... hehehe....

So that meant use the QCD instead of the WD, but do it after I get a lawyer, because the wording better be right b4 I file it************** And from the stop sign you put up, I don't have things right...... Thanks Guru, I have holted all attempts at this and will find an attorney somewhere today to take a look at this. I didn't want to file anything without an attorney looking at it anyways, just in a time crunch.

Thanks again for the 100000th time, Guru. You do know all....

**A: yes, you got it.

 

[cmore299]

Got the point... This afternoon, I found a lawyer 30 miles away and was able to explain my situation over the phone to. He had looked at my generic QCD from the bank and showed me all the errors. Then drafted me up the correct LEGAL one, with a keystroke and $50 for the form + $100 for consultation....

I did gain some knowledge trying to do this on my own, but spent my whole weekend researching the paperwork and legal terms for something that cost $150, and half an hour with a PROFESSIONAL.

If it wouldn't have been for this site, I would have filed that QCD that I had, and kicked myself in the rear for it later. Thanks for the "knowledge" Guru. You do know all. If you are ever in Des Moines, let me buy you dinner, you saved me from losing a house.

Thanks again, cmore