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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><span style='font-size:12.0pt;color:#4472C4'>From a title insurance perspective, it probably doesn’t matter what type of deed you use, provided the trust is a “Living Trust” created for estate planning purposes.<o:p></o:p></span></p><p class=MsoNormal style='margin-left:.5in'><span style='font-size:12.0pt;color:#4472C4'>In the 2006 Owner’s Policy the definition of “Insured” includes “…a trustee or beneficiary of a trust created by a written instrument established by the insured named in Schedule A for estate planning purposes.” <o:p></o:p></span></p><p style='margin-left:.5in;line-height:15.0pt'><span style='font-family:"Calibri",sans-serif;color:#4472C4'>In the Alta Homeowner’s Policy the insured (“You”) is defined: (3) the trustee or successor trustee of Your Trust or any Estate Planning Entity created for You to whom or to which You transfer Your Title after the Policy Date; (4) the beneficiaries of Your Trust upon Your death; or<o:p></o:p></span></p><p class=MsoNormal><span style='color:#4472C4'>Since these definitions are not dependent on continuation of warranty provisions a quit claim deed would not jeopardize coverage. <o:p></o:p></span></p><p class=MsoNormal><span style='color:#4472C4'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#4472C4'>If the trust is not an estate planning trust, I would use a Statutory Warranty Deed and request an endorsement from the client’s Title Insurer</span><span style='color:#1F497D'>.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><p class=MsoNormal><span style='color:#1F497D'>John McCrady<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Counsel<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Puget Sound Title Company<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>5350 Orchard Street West<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>University Place WA 98467<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>253-476-5721<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>j.mccrady@pstitle.com<o:p></o:p></span></p></div><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>marc holmeslawgroup.com<br><b>Sent:</b> Wednesday, February 20, 2019 8:52 AM<br><b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br><b>Subject:</b> [WSBARP] Best practice - Conveying into new trust<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>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.”<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>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. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>Marc Holmes, JD<br>Holmes Law Group PLLC<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>2303 W. Commodore Way, Suite 306<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>Seattle, WA 98199<br></span><a href="mailto:marc@holmeslawgroup.com"><span style='font-size:12.0pt;font-family:"Times New Roman",serif;color:blue'>marc@holmeslawgroup.com</span></a><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><br>(206) 357-4224 (ofc)<br>(206) 849-0853 (cell)<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div>
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