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Quit claim deed to a trust

Quitclaim Deed - Two Individuals to a Revocable Trust - Indiana 2025

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The document is a Quitclaim Deed executed by two individuals transferring real estate to a trust in Indiana. It includes details such as the names and addresses of the grantors, the trustee, and the legal description of the property being transferred. The deed requires notarization and includes an affirmation statement regarding the redaction of Social Security numbers.

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Does a trust become irrevocable when one of two grantors dies?

The general rule is both grantors must die for a revocable trust to become irrevocable. However, there are legal ways to change the general rule for co-grantors. This means the parties that established the revocable trust have the legal power to set the rules for the trust.

Can a revocable trust have multiple grantors?

It is possible for a trust to have multiple grantors. If more than one person funded the trust, then they will each be treated as grantors in proportion to the value of the cash or property that they each provided to fund the trust.

Can a revocable trust have two grantors?

Joint Revocable Trusts: Asset Protections And, in some states, like our home state of Missouri, you can have special asset protection if you have the spouses keep their assets in both names in a revocable trust. In a lot of other states, you can hold assets as community property.

What are the problems with joint revocable trusts?

There are some drawbacks though. For example, a Joint Trust may not offer asset protection in cases of creditors or judgements against either spouse. Because everything is in one Trust, all assets would be vulnerable to judgements. Another possible disadvantage could be a lack of flexibility after one spouses death.

Can a quit claim deed transfer property from a trust?

A quit claim deed is a type of deed that transfers an interest in real property, like a house, vacant land to another. Quit claim deeds are often used instead of warranty deeds when transferring property out of the trust.

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