Sunday, December 26, 2010
Interspousal Transfer Deed
Please note that the We The People Interspousal Transfer Deed is currently available in California only.
The Interspousal Transfer Deed is a special type of deed that allows interests in real estate to be transferred between spouses. With an Interspousal Transfer Deed, you are allowed to specify the appropriate exclusion so that the transfer of the real estate does not trigger a reappraisal of the real estate for property tax purposes.
Some common uses of the Interspousal Transfer Deed form include the following transfers:
• To a spouse's trust
• To a trust for a surviving spouse of a deceased spouse
• From a trust to the spouse of the settlor of the trust
• From joint tenancy to community property
• From joint tenancy to tenancy in common
• From one spouse to both spouses
• From one spouse to the other spouse
• From both spouses to one spouse
• To relinquish any community interest and to vest said property in the name of the grantee as his/her sole and separate property
You can choose to prepare either an Interspousal Transfer Quitclaim Deed or an Interspousal Transfer Grant Deed. Refer to the descriptions for Quitclaim Deed and Grant Deed to determine which type is right for you.
Posted by Rene and Tammy Bojorquez at 12:01 AM