New Service for Hawaii Timeshare Owners with Unfunded Trusts
Irvine, CA (PRWEB) February 27, 2012
Deed and Record provides new internet service to verify a timeshare has been transferred into trust. Additional internet service is available to transfer timeshares into the trust. Deed and Record prepares Hawaii quit claim deeds and records the deeds with the Bureau of Conveyances. This service also includes preparing and filing Form P64B “Exemption from Transfer Tax” and the payment of all filing fees.
Title verification is available at http://deedandrecord.com/trust_transfers/deed_research.
Hawaii timeshare trust transfer by quit claim deed is available at http://deedandrecord.com/trust_transfers/trust_transfer_deed.
Call 949-474-0961 or go to http://www.deedandrecord.com for more information.
Deed and Record is the low cost provider in quit claim deeds. Save $ 250 compared to other online services. The service includes recording the deed with the Bureau of Conveyances and payment of all filing fees at no additional cost.
Asset Transfer by Trust is a Two Step Process.
First, assets are transferred into the trust while the person is living.
Second, when the person dies assets are transferred from the trust to persons who are living as directed in the trust.
Timeshare owners who have a trust but have not completed the transfer of assets into the trust will not avoid probate. The trust is in reality a glorified Will.
Deed and record will prepare a quit claim deed to fund for living trusts, prepare and file required transfer tax exemptions and record the deed with the proper county recorder.
Why a Quit Claim Deed?
A quit claim deed does not contain any implied warranties. The owner who “quit claims” real estate simple conveys whatever ownership interest he or she has along with any debt or loans secured by the property. The quit claim owner makes no promises and the property is taken “as is.” A quit claim is the easiest and cheapest way to transfer vacation ownership to a trust.
Why Record the Timeshare Deed?
The timeshare deed must be made part of the public record so the world knows there has been a change of ownership. The deed must be recorded with Hawaii’s Bureau of Conveyances.
Hawaii’s Recording System
Hawaii is the only state in the nation with a single statewide recording office. There are two systems of recording in the State of Hawaii, the “Land Court” and the “Regular System.” The Regular System basically serves to give “notice” that something is on record. The Regular System is similar to the recording by county found in the other states. The Land Court issues certificate of titles to owners of land. Ownership in Land Court is guaranteed by the State of Hawaii.
Documents are recorded either in the Land Court system, Regular system or both, depending on which system the land was originally recorded. When recorded in both land systems, documents are said to be recorded in the “Double” system.
Decertification of Timeshares out of Land Court
As of July 1, 2011, the Land Court will not accept any document affecting timeshare ownership. All timeshares are to be recorded in the Regular System with the Bureau of Conveyances. The Land Court deregisters timeshares certificates as they are presented for either change in title or for change in ownership.
Timeshares recorded in the Land Court must be deregistered at time of transfer into a trust. Deed and Record prepares the decertification sheet to accompany the trust transfer deed.
Make it “Legal”
A properly prepared quit claim deed must have a legal description so the Bureau of Conveyances can add the deed to the public chain of title. The Bureau will not accept a quit claim deed without a legal description.
Receive Personal Service
Now timeshare and vacation resort owners can use the internet to verify title and fund trusts. Timeshare owners can stay at home while at the same time receive personal service from a real person.
To begin or for more information please go to http://www.DeedAndRecord.com, or call Mark at 949-474-0961 or email to Mark(at)DeedAndRecord(dot)com.
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