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<p class="MsoNormal">I use a Special Warranty Deed. The special warranty is that title insurance passes with the transfer. You could use a statutory warranty deed as well, but that seems like overkill.
<o:p></o:p></p>
<p class="MsoNormal">I stopped using a quitclaim deed to fund trusts based on this entry on page 68 of
<i>The Funding of Living Trusts</i> by Carla Neeley Freitag published by the ABA RPPT Section (2004): “While a quitclaim deed is sufficient to pass a settlor’s interest in real property to a trustee, two important considerations weigh in favor of using a warranty
deed. First, a warranty deed preserves the chain of title and will not raise questions concerning title when the property is ultimately distributed or sold by the trustee. Second, depending on the type of title insurance policy used, the recipient of a quitclaim
deed may forfeit recourse to the settlor’s title insurance policy or prior policies.” There is an update to the newest ALTA policy that I think covers transfers to a living trust, but why take a risk that the quitclaim deed might destroy title insurance.<o:p></o:p></p>
<p class="MsoNormal">I’ve attached my template for reference, feel free to use at your own risk. I would welcome any feedback from others that have considered this.<o:p></o:p></p>
<p class="MsoNormal">I never use right of survivorship for married couples. We want to preserve the surviving spouse’s opportunity to disclaim to a credit shelter trust, or otherwise take a nonprorata distribution of the assets between subtrusts. No advantage
to right of survivorship, only headache if you want to do some tax planning at the first death.<o:p></o:p></p>
<p class="MsoNormal">Best, <o:p></o:p></p>
<p class="MsoNormal">Nick<o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;color:black">Nicholas Pleasants | Shareholder
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<p class="MsoNormal"><span style="color:#70AD47"><img width="223" height="95" style="width:2.3229in;height:.9895in" id="Picture_x0020_1" src="cid:image001.jpg@01D89796.5AF31BC0" alt="OseranHahnAttyatLaw 8"><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black">11225 SE 6<sup>th</sup> Street | Suite 100 | Bellevue, WA 98004<br>
Main: (425) 455-3900 | Fax: (425) 455-9201 | E-mail: <a href="mailto:npleasants@ohswlaw.com">
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<p class="MsoNormal" style="text-autospace:none"><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:#1F497D">CONFIDENTIALITY NOTE: This e-mail message contains information belonging to the law firm of Oseran Hahn, P.S., which may be privileged,
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Ann Manley<br>
<b>Sent:</b> Thursday, July 14, 2022 2:34 PM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] Deeding residence to Revocable Living Trust<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">What is the best practice: using a Quit Claim or a Statutory Warranty Deed? For married couples, do you add any additional language stating that the property is community property with right of survivorship? Finally, do you add language
stating that the trustee has the power to encumber, manage or convey the property?<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Ann Manley, Esq.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">The Manley Law Firm, P.S., Inc.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">PO Box 16324</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">Seattle, WA 98116</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif">(206)292-3064 / (206)292-3914 fax</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif"><a href="http://www.manleyfirm.com" target="_blank">www.manleyfirm.com</a></span><o:p></o:p></p>
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<p><b><i><span style="font-size:10.0pt;font-family:"Arial",sans-serif">The Manley Law Firm practice areas include Bankruptcy*, Estate Planning, Auto Accidents, Civil Litigation, Construction, Commercial and Contract Law, Employment Matters, Personal injury,
Small Business, Unemployment Claims, Wage Loss and Compensation claims</span></i></b><o:p></o:p></p>
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