Should we use quit claim deed or general warranty deed to transfer property from revocable living trust? 2 Answers as of February 10, 2015

We used quitclaim deed to transfer the property to the trust. Now, we would like to refinance. Should we use quitclaim deed or general warranty deed? We will also amend the trust by removing the property, and once the transaction is complete, we return the property back to the trust.

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Stephens Gourley & Bywater | David A. Stephens
Either is fine. Most trustees use quitclaim deeds.
Answer Applies to: Nevada
Replied: 2/10/2015
Goldsmith & Guymon
Goldsmith & Guymon | Dara Goldsmith
Usually a quitclaim deed is sufficient. Most times the lender will prepare it. You do not need to amend the Trust. After the refinancing is complete, so long as you are not violating the terms of the new note you may transfer the property back to the Trust via a quitclaim deed. It is usually a good idea to get something in writing from the lender authorizing you to put the property back into the trust. If you have questions, you should speak with your estate planning attorney. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
Answer Applies to: Nevada
Replied: 2/10/2015
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