Deed Transferring Real Property into Living Trust - Rhode Island

This instrument prepared by:
[____________________________________]
[____________________________________]
[____________________________________]

After recording return to:
[____________________________________]
[____________________________________]
[____________________________________]

Send subsequent tax bills to:
[____________________________________]
[____________________________________]

Tax Assessor's Plat / Lot No.: Plat [____] / Lot [____]

City/Town of: [____________], Rhode Island

SPACE ABOVE THIS LINE RESERVED FOR THE RECORDER'S STAMP

QUITCLAIM DEED — TRANSFER TO REVOCABLE LIVING TRUST

State of Rhode Island

1. GRANTOR

[GRANTOR FULL LEGAL NAME], [an unmarried person / a married person / husband and wife / wife and husband], of the [City/Town] of [____________], County of [____________], State of Rhode Island, whose mailing address is [____________________________________] ("Grantor").

2. GRANTEE / VESTING IN TRUSTEE

[GRANTOR FULL LEGAL NAME], as Trustee of the [TRUST NAME] dated [__/__/____], and any successor trustee then serving under that trust instrument and any amendments to it (the "Trustee"), whose mailing address is [____________________________________] ("Grantee").

The Property is conveyed to the Trustee to be held, administered, and distributed according to the terms of the [TRUST NAME] dated [__/__/____] (the "Trust"). Title vests in the Trustee in trust, and in any successor trustee, without the necessity of any further conveyance, in accordance with the powers granted to the Trustee under the Trust and under R.I. Gen. Laws § 34-4-27 (Rhode Island has NOT adopted the Uniform Trust Code; property to be held in trust is conveyed to the trustees of the trust pursuant to this section).

3. CONSIDERATION

This conveyance is made for estate-planning purposes only, with no change in beneficial ownership of the Property. The actual consideration paid for this conveyance is NONE — the Grantor is the settlor and a beneficiary of the Trust during the Grantor's lifetime.

The consideration is such that no documentary stamps (real estate conveyance tax) are required. R.I. Gen. Laws § 44-25-1(c).

4. GRANTING CLAUSE

KNOW ALL PERSONS BY THESE PRESENTS, that the Grantor, for the consideration stated above, does hereby GIVE, GRANT, BARGAIN, SELL, and CONVEY with QUITCLAIM COVENANTS unto the Grantee, as Trustee as aforesaid, and to the Grantee's successors in trust and assigns, all of the Grantor's right, title, and interest in and to the following described real property (the "Property"):

Property commonly known as: [STREET ADDRESS, CITY/TOWN, RHODE ISLAND, ZIP]

City/Town: [____________], Rhode Island

Tax Assessor's Plat / Lot: Plat [____] / Lot [____]

Title reference: Being the same premises conveyed to the Grantor by deed dated [__/__/____] and recorded in the Land Evidence Records of the [City/Town] of [____________] in Book [____] at Page [____].

Legal Description: See Exhibit A attached hereto and incorporated by reference.

TO HAVE AND TO HOLD the Property, together with all the buildings, improvements, privileges, hereditaments, easements, and appurtenances belonging to it, unto the Grantee, as Trustee, and the Grantee's successors in trust and assigns, forever.

5. SUBJECT TO

This conveyance is made subject to:

(a) Real estate taxes and assessments of the [City/Town] of [____________] for the current and subsequent fiscal years, not yet due and payable;
(b) Easements, covenants, conditions, restrictions, reservations, and rights-of-way of record;
(c) Applicable zoning, subdivision, building, land-use, and environmental laws and regulations; and
(d) Any mortgage, deed of trust, or other lien of record, which the Trustee takes subject to but does not assume except as separately agreed in writing.

6. PURPOSE; HOMESTEAD AND TAX-EXEMPTION CONTINUITY; TITLE INSURANCE

6.1 Estate-planning purpose. The sole purpose of this conveyance is to fund the Grantor's revocable living trust so the Property may pass on the Grantor's death under the terms of the Trust without probate administration. The Grantor reserves all rights to amend or revoke the Trust and to direct the Trustee to reconvey the Property to the Grantor at any time.

6.2 Homestead / tax-classification continuity. The parties intend that any homestead estate (R.I. Gen. Laws § 34-3-1 et seq.), owner-occupancy tax classification, or other exemption applicable to the Property continue uninterrupted following this conveyance. Because the Grantor remains the beneficial owner and a beneficiary of the Trust, the Grantor should confirm with the [City/Town] Tax Assessor that the owner-occupied classification and any exemptions are preserved after re-titling, and re-file any required claim.

6.3 Title insurance. Re-titling into a trust can affect an existing owner's title insurance policy. The Grantor should request an endorsement naming the Trustee as an insured, or confirm coverage continuity, with the title insurer before recording.

7. TRANSFER TAX EXEMPTION AND GARN-ST GERMAIN RECITALS

7.1 Rhode Island Real Estate Conveyance Tax (R.I. Gen. Laws § 44-25-1). Rhode Island imposes a real estate conveyance tax (documentary stamps) only on deeds for which the consideration paid exceeds one hundred dollars ($100). Because this conveyance into the Grantor's own revocable living trust is made for no consideration and effects no change in beneficial ownership, no real estate conveyance tax is due. Pursuant to R.I. Gen. Laws § 44-25-1(c), this deed recites that "the consideration is such that no documentary stamps are required" (see Section 3).

NOTE. Although no tax is due, the city or town clerk will still require (a) the consideration/sale price to appear on the face of the deed under R.I. Gen. Laws § 34-11-1.4, and (b) a Real Estate Conveyance Tax Form / CVYT return to reflect the no-tax/exempt transfer if the municipality requires one. Confirm the clerk's local practice before recording.

7.2 Limited due-on-sale protection (Garn-St Germain Act). If the Property is residential real property containing fewer than five dwelling units and secures a real property loan, 12 U.S.C. § 1701j-3(d)(8) bars the lender from exercising a due-on-sale clause for a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and that does not transfer occupancy rights. Confirm every element before relying on the exemption. The borrower remains personally liable on any existing note.

8. EXECUTION

IN WITNESS WHEREOF, the Grantor has executed this Quitclaim Deed on [__/__/____].

GRANTOR:

____________________________________
[GRANTOR FULL LEGAL NAME]

____________________________________
[SPOUSE FULL LEGAL NAME], joining solely to release any homestead estate and marital interest (if applicable)

9. NOTARY ACKNOWLEDGMENT (Rhode Island — R.I. Gen. Laws § 34-12-2)

In the [City/Town] of [____________], on this ____ day of ______________, 20____, before me, the undersigned notary public, personally appeared [GRANTOR FULL LEGAL NAME] [and [SPOUSE FULL LEGAL NAME]], proved to me through satisfactory evidence of identification, which was [____________________________________], to be the person(s) whose name(s) is/are signed on the foregoing instrument, and who acknowledged to me that he/she/they executed the same voluntarily for the purposes therein contained.

____________________________________
Notary Public
Print name: ______________________
My commission expires: ______________

(Affix notarial seal)

10. RECORDING AND TAX-FORM INSTRUCTIONS

1. Where to record. Record the original, signed, and acknowledged deed in the Land Evidence Records of the [City/Town] of [____________], Rhode Island — the municipality in which the Property is located, with the city/town clerk or recorder of deeds (R.I. Gen. Laws § 34-13-1). Rhode Island records by municipality, not by county.
2. Consideration on the face of the deed (§ 34-11-1.4). State the full consideration/sale price on the deed. For a no-consideration trust transfer, state "$0.00 (no consideration)" or "$1.00" — do not leave it blank, or the clerk may reject the deed.
3. Real estate conveyance tax (§ 44-25-1). No documentary stamps are required for this no-consideration transfer; the deed recites the § 44-25-1(c) statement (Section 3 / Section 7.1). Provide any municipal conveyance-tax form or CVYT return the clerk requires showing the exempt/no-tax transfer.
4. Recording fees. Pay the per-page recording fee and any document-preservation surcharge charged by the municipality (R.I. Gen. Laws § 34-13-7).
5. Update collateral records. After recording, (a) obtain written instructions from the property/casualty insurer on how the owner, Trustee, Trust, and lender should appear on the policy; (b) confirm the owner-occupied tax classification and exemptions with the [City/Town] Tax Assessor; (c) provide a recorded copy and an Affidavit or Memorandum of Trust (R.I. Gen. Laws § 34-4-27) to the title company; and (d) record this deed before, not after, any closing on a sale or refinance.

EXHIBIT A — LEGAL DESCRIPTION

[INSERT THE COMPLETE LEGAL DESCRIPTION EXACTLY AS IT APPEARS ON THE GRANTOR'S CURRENT VESTING DEED — metes-and-bounds, or lot/plat description by Assessor's Plat and Lot with reference to a recorded plat. Include the title reference (Book/Page in the Land Evidence Records). Attach surveys or additional pages as needed.]

____________________________________

____________________________________

____________________________________

Sources and References

• R.I. Gen. Laws § 34-11-1 — form and effect of deeds; statutory short-form covenants (warranty and quitclaim).
• R.I. Gen. Laws § 34-11-1.4 — full consideration / sale price must appear on the face of the deed.
• R.I. Gen. Laws § 34-12-2 — officers authorized to take acknowledgments (notary public, town clerk, recorder of deeds, etc.).
• R.I. Gen. Laws § 34-13-1 — instruments eligible for recording; recorded by the town clerk / recorder of deeds in the Land Evidence Records.
• R.I. Gen. Laws § 34-13-7 — recording fees and document-preservation surcharge.
• R.I. Gen. Laws § 34-3-1 et seq. — homestead estate.
• R.I. Gen. Laws § 44-25-1 — Real Estate Conveyance Tax; imposed only when consideration paid exceeds $100; § 44-25-1(c) no-documentary-stamps statement; current base rate per the RI Division of Taxation.
• R.I. Gen. Laws § 44-25-2 — statutory exemptions from the Real Estate Conveyance Tax.
• R.I. Gen. Laws § 34-4-27 — Title to Real Estate — Trusts; affidavit or memorandum of trust (Rhode Island has NOT adopted the Uniform Trust Code).
• 12 U.S.C. § 1701j-3(d)(8) — qualifying residential inter vivos trust transfer
• Rhode Island Division of Taxation — Real Estate Conveyance Tax (tax.ri.gov/tax-sections/sales-excise-taxes/real-estate-conveyance-tax).

This document is provided for informational purposes only and does not constitute legal advice. Confirm the conveyance-tax treatment and recording requirements with the city or town clerk and consult a licensed Rhode Island attorney before executing or recording this deed.