[WSBARP] Best practice - Conveying into new trust

[Lewis, Brian L.]

Marc,

Under the 2006 ALTA policy, the definition of "insured" generally includes grantor trusts so the endorsement is not necessary.  Under older policies (1992 and 1970 ALTA policy forms), the best practice is to get the additional insured endorsement.  Any of the forms of deeds should work, and I would think a QCD should be fine.


Brian L. Lewis
Member
Ryan, Swanson & Cleveland, PLLC
1201 Third Avenue, Suite 3400 | Seattle WA 98101-3034
Direct 206.654.2206 | Direct Fax 206.652.2906
Lewis at ryanlaw.com<mailto:Lewis at ryanlaw.com> | www.ryanswansonlaw.com<http://www.ryanswansonlaw.com>
.

[Ryan Swanson and Cleveland Logo]<http://www.ryanswansonlaw.com/>



From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of marc holmeslawgroup.com
Sent: Wednesday, February 20, 2019 8:52 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Best practice - Conveying into new trust

I've seen quit claim, bargain and sale, special warranty, and statutory warranty deeds used to  convey property into a trust and am trying to decide which to use and whether to ask the title company for an endorsement for the new "insured."

Any opinion on which is most appropriate form of deed and whether a title endorsement is even necessary.  I vaguely recall that this sort of conveyance won't disturb continuity of coverage under either an ALTA Standard or ALTA Homeowner's policy.



Marc Holmes, JD
Holmes Law Group PLLC
2303 W. Commodore Way, Suite 306
Seattle, WA 98199
marc at holmeslawgroup.com<mailto:marc at holmeslawgroup.com>
(206) 357-4224 (ofc)
(206) 849-0853 (cell)


-- 

CONFIDENTIALITY: This e-mail and its attachments are confidential and 
may 
be protected by the attorney/client privilege, work product 
doctrine, or 
other nondisclosure protection. If you believe that it has 
been sent to 
you in error, you may not read, disclose, print, copy, 
store or 
disseminate the e-mail or any attachments or the information 
in them. If 
you have received this communication in error, please 
notify this firm 
immediately by reply to this communication or by 
calling toll free 
800-458-5973 or if International collect 
at (206) 464-4224.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20190220/fe46e258/attachment.html>