Posted by Jim IL on January 16, 2001 at 22:39:37:
G. Martin,
I am also in Illinois, but I am not a lawyer.
With that said, I always make the deed have the name of the trust and the name of the trustee on it.
Further, in my local counties, you must fill out an exemption stamp that says you are exempt from transfer tax when deeding a property into a trust, because no money changed hands.
I also had to add a space on the deed saying who prepared it, and where to send the tax bills, and also who to send the original deed to after it is scanned into the county data base.
For some reason, without that, they all wanted to send it to the Grantees.
As for leases on homes I hold in trusts, the Landlord is the trust, and the trustee signs the lease with the tenant.
Since the trust owns the home, the lease needs to be with the trust.
Hth,
Jim IL