What is the procedure for properly 'funding' a revocable living trust?
Full Question:
Answer:
In order to fund a trust with a house, the house needs to be transferred to the trust. Typically this is done by the present owners preparing a deed transferring their ownership to the trust and recording the deed at the county recorder's office in the county where the property is located. For example, in a case where a husband and wife are the sole joint owners, the deed's grantors are husband and wife and the grantee is a trustee. If the grantee is a person acting as a trustee, the person is named in his/her capacity as a trustee, rather than personally, as an individual. In NC, the deed must be notarized at the time of signing.
Please see the information at the following links:
http://definitions.uslegal.com/r/real-estate-deeds/
http://www.uslegalforms.com/deedforms/
http://lawdigest.uslegal.com/estate-planning/trusts-overview/
http://definitions.uslegal.com/t/trustee/
http://definitions.uslegal.com/t/trusts/
http://www.ehow.com/how_4491466_real-estate-property-living-trust.html
