We prepare deeds, affidavits, and trusts for California real property. We e-record deeds and affidavits. Documents are exchanged by e-mail and mail. You avoid office visits.
Deed and Record is an authorized submitter to e-record deeds and affidavits in California. Documents are exchanged between Deed and Record and its clients by email and mail. Our clients avoid visits to a law office.
Deeds
In California, a deed is a legal document that transfers ownership of real property from one person or entity to another. The purpose of a deed is to provide an unambiguous record of the transfer of ownership. A recorded deed becomes part of the public record. A recorded deed informs the world that the property has changed owners.
Here are examples of when deeds change owners;
- remove a spouse due to a divorce
- add a spouse as an owner
- transfer real property into or out of a living trust
- transfer real property into or out of a business entity
Affidavits
Joint tenant owners have equal ownership and the right of survivorship. This right allows the transfer of ownership from the deceased owner to the surviving owner without probate. The affidavit of death of the joint tenant recorded with the county recorder’s office updates the change of owners.
An affidavit of death of trustee establishes the death of a trustee of a trust that owns real property. When a trustee passes away, their successor trustee assumes the responsibility to manage the trust and its assets, including real property. This affidavit notifies the county recorder of the deceased trustee’s death and updates the title to identify the successor trustee.
Trusts
A living trust is a legal document. Your assets transfer into the trust while you are still alive. You name yourself the trustee and during your lifetime maintain control over your assets. Here are four advantages of a trust.
- Avoid Probate: A living trust allows your assets to pass to your beneficiaries without going through the probate. Probate is a court-supervised process that can be lengthy, expensive, and public. By avoiding probate, you save time and money. Also, you keep your affairs private.
- Greater Control: You maintain control over your assets during your lifetime. You can change the terms of the trust and add or remove assets. You can even revoke the trust entirely if needed.
- Flexibility: You can tailor your living trust to your needs and circumstances. For example, you can include provisions to care for your minor children or a child with special needs. Another example is if you have children who need to be financially savvy. You can distribute assets over time or based on certain conditions for these children.
- Reduce taxes: A living trust can effectively minimize estate and capital gains taxes. The surviving spouse can reduce capital gains tax with a step-up in basis on the death of the first spouse. A step-up in basis is when one spouse dies, and half of the community property basis increases to fair market value as of the date of death.
Deeds, affidavits, and trusts for California real property.
The purpose of a deed is to provide an unambiguous record of the transfer of ownership. An affidavit updates title with the change in a trustee or the death of joint tenant. This website is by Mark W. Bidwell, an attorney licensed in California. His office is located at 4952 Warner Avenue, Suite 235. Huntington Beach, California 92649. The phone number is 714-846-2888.