akiss4luck
Junior Member
What is the name of your state (only U.S. law)? Texas
I have found 90 percent of my answers, but I am a missing the last pieces of the puzzle.
My Dad (Settlor) has a Revocable Trust leaving everything to me, only daughter.
My Husband is the Trustee, he has every power available to do with what he needs to do such as buy, sale, trade property, stocks ect....
We want to do a Warranty Deed of the home to me now instead of waiting so I can get a home improvement loan, the termites are pretty bad too.
Since caring for my parents, I have no money so I can not buy the home for cash or loan qualify but a title company employee informed me that the Warranty deed can be Warranty deeded for love and or care extended through out my parents lives for the home value.
Question #1
One problem is that I only see where we can put $10.00 on the Warranty Deed form so how or where would the exact wording go since Dad wants to just give it to me now for my life's work and my care extended?
Would this have to be specially drafted?
(I hope not I have zero income for spending over 20 years caring for them, Mom is already passed on years ago.)
Question #2
The Grantor "Dad" is showing on the revocable trust papers listed as "MY DAD Living Trust" Would that be the same way we would need to put as the Sellers name on the Warranty Deed?
Am I correct in understanding that we need to fill out the Warranty deed from the living trust and not my dad as an individual.
Thanks if you know these last few loose threads that we need to complete this goal.
I am going to post this in the real estate forum too because it is just crossing too many grey lines and I am just too confused.
Thanks! Bless You all! Mrs. V
I have found 90 percent of my answers, but I am a missing the last pieces of the puzzle.
My Dad (Settlor) has a Revocable Trust leaving everything to me, only daughter.
My Husband is the Trustee, he has every power available to do with what he needs to do such as buy, sale, trade property, stocks ect....
We want to do a Warranty Deed of the home to me now instead of waiting so I can get a home improvement loan, the termites are pretty bad too.
Since caring for my parents, I have no money so I can not buy the home for cash or loan qualify but a title company employee informed me that the Warranty deed can be Warranty deeded for love and or care extended through out my parents lives for the home value.
Question #1
One problem is that I only see where we can put $10.00 on the Warranty Deed form so how or where would the exact wording go since Dad wants to just give it to me now for my life's work and my care extended?
Would this have to be specially drafted?
(I hope not I have zero income for spending over 20 years caring for them, Mom is already passed on years ago.)
Question #2
The Grantor "Dad" is showing on the revocable trust papers listed as "MY DAD Living Trust" Would that be the same way we would need to put as the Sellers name on the Warranty Deed?
Am I correct in understanding that we need to fill out the Warranty deed from the living trust and not my dad as an individual.
Thanks if you know these last few loose threads that we need to complete this goal.
I am going to post this in the real estate forum too because it is just crossing too many grey lines and I am just too confused.
Thanks! Bless You all! Mrs. V
