Revocable Trust — changing title of home
How do I go about changing the title of my house that is in my name to my trust?
Terry Says
That’s very simple. You’ll need the first two and last pages of your trust document (not the entire thing). Ask the lawyer who created the trust. In fact, that attorney should change the title for you at no cost. If you have a mortgage, one copy should be presented to the lender, and the other goes to the title company — again the lawyer will do this for you. Once done you should notify your homeowners insurance company to have the insured include your RLT. That might require a copy of your title.
A RLT is useless if you don’t re-title the assets into the name of the trust. Many people make this mistake and, of course, aren’t around when their heirs find out! So take it one step at a time. If the attorney won’t help, contact the title company on your deed, and you can present the documents yourself. It happens all the time.
And, just a reminder, this DOES NOT impact anything re capital gains when you sell eventually. No tax implications whatever, since the RLT uses your SS number!
