Quit Claim Process Help Needed
Hi everybody. I recently purchased several properties at a Tax Sale in Wayne Co, Pennsylvania. The County issued me Tax Claim Deeds. I understand that to get a free and clear Title the next step is to go through the Quit Claim Process. Local Re attorneys charge about $500 for the service. My question is Can I do this without an attorney ? If yes is there a source for step by step instructions you can refer me to ?
Thanks
But you have to get the former owner to sign it...that is the hard part. Read the forum post titled "avoid redemption thru quit claim"....under the tax lien forum.
I didnt know this was a form I could buy at office max...thanks marketing.
[addsig]
I believe you are refering to a QUIET TITLE SUIT...and if the lawyer said he will do a quite title suit for $500...get it in writing! They average between $1500-$2000, from what I have heard.
[addsig]
Just out of curiosity, on a quiet title action regarding a tax lien Is the requirement only to post in the papaer or does the actual owner on record get a notice sent to him at the address of the property the action is on??
I think they send out several letters to the owners, but I am really not sure. They really want the owners to know that they are losing the rights to the property and to come to court and fight it, but the lawyers know that the former owners will mostly loose.
[addsig]
Thank you so much for your valuable information.
If I may, I would like to ask you another question mtnwizard.
How can I become a certified land trust consultant?
What courses must I take?
and If you were to start over, what would you change or add to make your real estate investng experience more successful??
It would be greatly appreciated by a young fellow learning with vision in real estate success.
**HaPpY NeW YeAr!!!***
Wiz,
I would like for you to pm me that link so i can take a look at it.
http://www.thecreativeinvestor.com/residential/Article1253-Finding_An_Attorney_Who_Knows_About_Land_Trusts.html
Bargain,
Please see my post above pointing out how to distinguish between a standard trust and a land trust. In a land trust, any change of Trustee requires a recorded change of title, so there is no jeopardy whatsoever. In addition, the trust is Beneficiary-directed and the Trustee is bound by your decision to have him "resign".
_________________
"Dissent is the highest form of patriotism" - Thomas Jefferson<BR><BR>
[ Edited by mtnwizard on Date 12/27/2006 ]
Hello All,
In California a person could use a “NOTICE OF TERMINATION OF TRUSTEE” along with a “CERTIFICATION OF TRUST” to do exactly what Erick http://www.described.To prevent such a thing from happening one could record an “OPTION TO PURCHASE BENEFICIAL INTEREST IN TRUST, SECURED BY REAL PROPERTY” along with a “PERFORMANCE TRUST DEED”.
SEE ATTACHED DOCUMENTS.
NOTICE OF TERMINATION OF TRUSTEE
I DARRYL EVANS as Beneficiary, of that certain Trust known as “THE # 2229876 TRUST” and recorded as “ EQUITY HOLDING CORPORATION AS TRUSTEE OF TRUST # 2229876” ,which is evidenced by that certain Grant Deed recorded on NOVEMBER 26, 2003 as Instrument No. 03-3592540 in book N/A, page N/A, in the Official Records of the County of LOS ANGELES, State of California, affecting the land in said Trust and Grant Deed described as,
LOT 6 IN BLOCK “F” OF TRACT NO. 4368 IN THE CITY OF COMPTON, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA AS PER MAP RECORDED IN BOOK 47, PAGE(S) 74, OF MAPS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. APN NO.: 6153-019-016
AND as the undersigned, and in accordance with the terms of the trust instrument hereby terminate the current Trustee, and substitute a new Trustee under said Trust in place and instead of EQUITY HOLDING CORPORATION. Now therefore, I hereby substitute STEVE VONG as Trustee under the terms of said Trust and as Trustee, and I STEVE VONG do hereby convey, without warranty, to PAUL JOHNSON AN UNMARRIED MAN AS HIS SOLE AND SEPARATE PROPERTY the Estate now held by me hereunder.
DATE: AUGUST 21,2006
__________________________________________________
DARRYL EVANS BENEFICIARY
__________________________________________________
STEVE VONG AS TRUSTEE
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES } SS.
On AUGUST 21, 2006 before me, _____________________________________, personally appeared DARRYL EVANS AND STEVE VONG personally known to me (or proved to me on the basis of satisfactory evidence) to the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature__________________________________
CERTIFICATION OF TRUST
(Pursuant California Probate Code Section 18100.5)
STEVE VONG being of legal age, declares under penalty of perjury:
1. Declarant confirms the existence of the following named Trust:
Name of Trust: THE # 2229876 TRUST
Date of Execution of
Trust Instrument: NOVEMBER 11, 2003
Currently Acting Trustee: STEVE VONG
2. Declarant(s) state(s) the above named trustee(s) is/are fully empowered to act for said Trust and is/ are properly exercising his, her or their authority under said Trust and is fully empowered to receive distributions of sales proceeds for, negotiate for, contract for, execute, acknowledge, and deliver all deeds, releases, mortgages, leases, contracts, options, agreements, instruments, and other obligations of whatsoever nature relating to the Trust Property, and generally to have full power to do all things and perform all acts necessary to make the instruments proper and legal (and to do so by duly appointed attorney-in-fact) and that no trustee(s) other than STEVE VONG is necessary under the terms of the Trust to said documents(s).
3. Declarant(s) state(s) that the Trust Identification Number is: 20-2898247
4. Declarant(s) state(s) that the manner in which title to the Trust asset should be taken is “EQUITY HOLDING CORPORATION AS TRUSTEE OF TRUST # 2229876”.
5. Declarant(s) state(s) that the Beneficiary (ies) or his/her/ their successor in interest reserves the right and has the authority to remove or terminate a Trustee(s) or his/her/ their successor in interest and appoint a successor to succeed him/her or them whether or not said Trustee(s) or his/her/ their successor in interest is at fault. Said Beneficiary (ies) or his/her/ their successor in interest may remove or terminate a Trustee (s) or his/her/ their successor in interest by causing to be recorded in the county where the trust property is located, a “Notice of Termination of Trustee”, thereby terminating said Trustee (s) or his/her/ their successor in interest and appointing themselves or another party as successor Trustee(s) and by subsequently conveying said trust property to him/her, themselves or a third party.
6. Declarant(s) state(s) that the Trust is in full force and effect and has not been revoked, modified, supplemented or amended in any manner, which would cause the representations contained in this Certification of Trust to be incorrect and is being signed by all of the currently acting trustees of the Trust.
7. Declarant(s) state that to the best of his, her or their knowledge, there are no claims, challenges of any kind or cause of action alleged, contesting or questioning the validity of the Trust or the trustee’s authority to act for the Trust, and that this certification was prepared, executed and acknowledged pursuant California Probate Code Section 18100.5 if and when attached hereto as “Exhibit A” is made a part hereof.
Signed under penalty of perjury, this ______ day of__________ 2006.
STEVE VONG AS TRUSTEE
[ Edited by Darryl-CA on Date 12/29/2006 ]
Mtnwizard,
Please re-read my edited version of my original post above. I would like to know your opinion.
mtnwizard,
Valid trusts exist that allow the beneficiary to solely assign a new trustee, your trust however, may not be structured this way.
If you understand and believe this statement to be true than this argument is concluded.
Do you understand and believe this statement to be true?
[ Edited by AustinRE on Date 12/31/2006 ]
Enough already