Deed Transferring Real Property into Living Trust - Virginia

This instrument was prepared by: [OWNER OF PROPERTY / VIRGINIA ATTORNEY NAME AND VIRGINIA STATE BAR NO.]: [____________________________________]
[____________________________________]
[____________________________________]

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

Consideration: $0.00 (no consideration)

Actual value of property conveyed (most recent property-tax assessment): $[ACTUAL VALUE] (enter actual value, not $0 merely because this is an exempt deed)

Exempt from recordation tax under Va. Code § 58.1-811(A)(11) and from grantor tax under Va. Code § 58.1-811(C)(1) — transfer to trustees of a revocable inter vivos trust; grantors and beneficiaries are the same; no consideration.

Title insurance underwriter: [NAME / UNKNOWN TO PREPARER] (complete for residential property with four or fewer dwelling units)

Tax Map / Parcel No. (GPIN): [____________]

SPACE ABOVE THIS LINE RESERVED FOR CLERK'S RECORDING STAMP

GENERAL WARRANTY DEED — TRANSFER TO REVOCABLE LIVING TRUST

Commonwealth of Virginia

Parties for indexing. THIS DEED is made on [__/__/____] by [FULL LEGAL NAME(S) OF ALL GRANTORS], as Grantor(s), to [FULL LEGAL NAME OF TRUSTEE], as Trustee of [TRUST NAME] dated [__/__/____], as Grantee. If no cover sheet is submitted, capitalize or underline each individual party's surname in this first clause.

1. GRANTOR

[GRANTOR FULL LEGAL NAME], [a single person / [GRANTOR FULL LEGAL NAME] and [SPOUSE FULL LEGAL NAME], [spouses / husband and wife], as tenants by the entirety with the common-law right of survivorship], whose 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 (collectively, "Grantee" or the "Trustee"), whose address is [____________________________________].

The Property is conveyed to the Trustee to hold, manage, and distribute according to the terms of the [TRUST NAME] dated [__/__/____] (the "Trust"). The Trustee and any successor trustee may exercise only the powers conferred by the Trust and applicable Virginia law.

3. CONSIDERATION

This conveyance is made for estate-planning purposes only and for no consideration. Each Grantor is a settlor and a beneficiary of the Trust; the Grantors and the Trust beneficiaries satisfy the identity condition of Va. Code § 58.1-811(A)(11), regardless of any additional beneficiaries named in the Trust. No consideration has passed between the Grantor and the beneficiaries. The actual value of the interest conveyed is $[ACTUAL VALUE], as separately stated on the first page and any required cover sheet.

4. GRANTING CLAUSE

THIS DEED, made this [__/__/____], by and between the Grantor and the Grantee identified above,

WITNESSETH: That for the consideration stated above (none), the Grantor does hereby GRANT and CONVEY with GENERAL WARRANTY unto the Grantee, as Trustee as aforesaid, and the Grantee's successors in trust and assigns, all that certain real property, with improvements and appurtenances, situated in the [County / City] of [____________], Commonwealth of Virginia (the "Property"):

Property commonly known as: [STREET ADDRESS, CITY, VIRGINIA, ZIP]

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

TO HAVE AND TO HOLD the Property unto the Grantee, as Trustee, and the Grantee's successors in trust and assigns forever, subject to the matters in Section 5.

5. SUBJECT TO

This conveyance is made subject to:

(a) Real estate taxes and assessments for the current and subsequent 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 deed of trust, mortgage, or other lien of record, which the Trustee takes subject to but does not assume except as separately agreed in writing.

6. PURPOSE; TAX-RELIEF AND TITLE-INSURANCE CONTINUITY

6.1 Estate-planning purpose. The purpose of this conveyance is to place the Property under the executed Trust's terms for management and distribution. The Grantor retains only the amendment, revocation, and direction rights provided in the executed Trust and applicable law.

6.2 Tax-relief continuity. The parties intend that any real-estate tax relief or exemption applicable to the Property — including elderly/disabled tax relief, disabled-veteran exemption, or land-use (use-value) assessment — continue uninterrupted following this conveyance. Because the Grantor remains the beneficial owner and a beneficiary of the Trust, the Grantor should confirm with the local Commissioner of the Revenue / Assessor that any such relief is preserved after re-titling and re-file any required application.

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. RECORDATION/GRANTOR-TAX EXEMPTION AND GARN-ST GERMAIN (DUE-ON-SALE) RECITALS

7.1 Virginia recordation and grantor tax — exemption (Va. Code §§ 58.1-801, 58.1-802, 58.1-811). Virginia imposes a state recordation tax (grantee tax) under § 58.1-801 and an additional grantor tax under § 58.1-802. This conveyance is to the trustees of a revocable inter vivos trust in which the grantors in this deed and the beneficiaries of the Trust are the same persons, and no consideration has passed between the grantor and the beneficiaries. Accordingly, this deed is:

• EXEMPT from recordation (grantee) tax under Va. Code § 58.1-811(A)(11); and
• EXEMPT from grantor tax under Va. Code § 58.1-811(C)(1).

The first page states both claimed exemption authorities. Section 58.1-811(A)(11) covers the recordation tax only if its conditions are met; § 58.1-811(C)(1) extends the grantor-tax exemption to transactions described in A 5 through 11. Section 17.1-223(A) requires the claimed exemption authority on the face of a writing unless a conforming cover sheet is submitted. A separate no-consideration deed of gift or quitclaim deed may qualify under § 58.1-811(D) if that deed states its character as required there.

7.2 Limited due-on-sale protection. For a real-property loan secured by a lien on residential real property with fewer than five dwelling units or a residential manufactured home, 12 U.S.C. § 1701j-3(d)(8) bars exercise of a due-on-sale option for a transfer into an inter vivos trust only when the borrower is and remains a beneficiary and the transfer does not relate to a transfer of occupancy rights. Confirm the loan, borrower, property, and trust satisfy those conditions. This provision does not modify an existing note or release the borrower from obligations under it.

8. EXECUTION

WITNESS the following signature(s) and seal(s) as of the date first written above.

GRANTOR:

____________________________________ (SEAL)
[GRANTOR FULL LEGAL NAME]

____________________________________ (SEAL)
[SPOUSE FULL LEGAL NAME] (if the Property is held by both spouses or to release any marital interest)

9. NOTARY ACKNOWLEDGMENT (Virginia)

COMMONWEALTH OF VIRGINIA )
) to-wit:
[COUNTY / CITY] OF [____________] )

The foregoing instrument was acknowledged before me this ____ day of ______________, 20____, by [GRANTOR FULL LEGAL NAME] [and [SPOUSE FULL LEGAL NAME]].

____________________________________
Notary Public
Printed name: ______________________
Registration No.: ___________________
My commission expires: ______________

(Affix notarial seal)

10. RECORDING AND TAX-EXEMPTION-RECITAL INSTRUCTIONS

1. Where to record. Submit the signed and acknowledged deed to the Clerk's Office of the Circuit Court of the [County / City] of [____________], Virginia, where the Property is located (Va. Code §§ 55.1-407(A)(1), 55.1-600).
2. State the claimed exemptions. Confirm that the deed identifies both § 58.1-811(A)(11) and § 58.1-811(C)(1) (see header and Section 7.1). If using a separate deed-of-gift route, that deed must state that it is a deed of gift under § 58.1-811(D).
3. Cover sheet and first-page fields. Complete any cover sheet the clerk requires (Va. Code § 17.1-227.1). State consideration ($0), the separately determined actual value from the most recent property-tax assessment, and both claimed exemption authorities accurately. Complete the preparer and title-insurance fields on the first page for residential property with four or fewer dwelling units; if no cover sheet is submitted, also capitalize or underline each individual party's surname in the first clause. Number each page consecutively before submission (§ 17.1-223).
4. Other recording charges. Even when the state recordation and grantor taxes are exempt, clerk and other applicable recording charges may still apply. Confirm the current charges with the clerk.
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 any tax relief / land-use assessment with the Commissioner of the Revenue; (c) provide a recorded copy and a Certification of Trust (Va. Code § 64.2-804) 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 — lot/block/section with the recorded plat/subdivision reference, or metes-and-bounds, and the [County/City]. Include the Tax Map / GPIN. Recite the source-of-title (being the same property conveyed to the Grantor by deed dated [__/__/____], recorded as Instrument No. [____________] / in Deed Book [____], Page [____], among the land records of the Circuit Court of [____________]). Attach surveys or additional pages as needed.]

____________________________________

____________________________________

____________________________________

Sources and References

• Va. Code § 55.1-300 — optional form of deed.
• Va. Code § 55.1-407(A)(1) — recordation in the county or city where the property is located protects against the specified purchasers and lien creditors.
• Va. Code §§ 17.1-223, 17.1-227.1 — recording requirements; cover sheet for land records.
• Va. Code § 58.1-801 — state recordation tax (grantee tax).
• Va. Code § 58.1-802 — additional grantor tax on conveyances of realty sold.
• Va. Code § 58.1-811(A)(11) — recordation-tax exemption for a deed to trustees of a revocable inter vivos trust where grantors and beneficiaries are the same and no consideration passes.
• Va. Code § 58.1-811(C)(1) — corresponding grantor-tax exemption for transactions described in A 5 through 11.

• Va. Code § 58.1-811(D) — no-consideration deed-of-gift or quitclaim-deed exemption (alternative; deed must identify its character).

• Va. Code §§ 55.1-354, 55.1-356, 55.1-600, 55.1-621 — warranty, recordation, and acknowledgment.

• Va. Code §§ 64.2-772(E), 64.2-804 — conveyance to a trust and certification of trust.
• 12 U.S.C. § 1701j-3(d)(8) — limited due-on-sale protection when every residential-property, continuing-beneficiary, and occupancy-right condition is met.

This document is provided for informational purposes only and does not constitute legal advice. Confirm eligibility for both § 58.1-811(A)(11) and § 58.1-811(C)(1), and state the claimed authorities on the deed or a conforming cover sheet. Consult a licensed Virginia attorney before executing or recording this deed.