Promissory Note and Deed Forms, from Nolo Press Occidental

Promissory Note and

Real Estate Forms Sets

If your settlement has one party owing money
to the other, or if real estate ownership is changed,
or one party has a separate interest in real estate,
you need these forms to put your terms into effect

Note • Deed of Trust • Grant Deed

Interspousal Deed • Quitclaim Deed

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		Promissory Note — Written promise to pay an amount owed Written promise, stating the sum, interest and defined monthly payments, either interest only with balance due on stated date or a monthly amount that will fully pay both principal and interest over a set period of time. *Form: $4.95*
		Deed of Trust — Security for the note Transfers title to real estate to a trustee (perhaps person who is owed) to secure the payment of the note. When the note is paid, title is transferred back to the owner. If the note is not paid, the trustee can sell the property to pay the note. Request for Notice of Default is included. This is very important, as it requires the mortgage holder to let you know if the property that secures your note goes into default. This will give you time to step in. *Form: $4.95* Both forms — Save 20% The note form and the trust deed to secure it. *Both forms: $7.95*

Interspousal Transfer Deed — From one spouse to the other

For co-owners who are married or domestic partners, this conveys real estate from joint or community ownership to (a) sole ownership of one party, or (b) ownership by both parties as tenants in common, meaning you will each own your own share separately until the property is sold and the proceeds divided. As a tenant in common, you can will your share to an heir or sell it to someone else, which you can't do as a joint or community property owner.

Form: $4.95


		Grant Deed — Conveys ownership in real estate Used to convey real estate to a 3rd party, or to change ownership from joint or community property ownership to separate ownership as tenants in common, meaning you will each own your own share separately until the property is sold and the proceeds divided. As a tenant in common, you can will your share to an heir or sell it to someone else, which you can't do as a joint owner. *Form: $4.95*
		Declaration of Exemption — Avoid transfer tax & reassessment Sworn statement that the deed is either (a) a transfer between spouses according to the terms of a settlement agreement or judgment, or (b) a transfer for which no compensation was received, and thus not subject to transfer tax. *Form: $4.95* Both forms — Save 20% The grant deed and the declaration of exemption. *Both forms: $7.95*

		Quitclaim Deed — Gives up any claim to real estate A quitclaim deed should always be used after a settlement agreement to confirm that there is no claim on the separate ownership of real estate by an ex-spouse or partner. In effect, it says that whatever may have happend when we were together, I have no claim of any kind on the named real estate. *Form: $4.95*
		Declaration of Exemption — Avoid transfer tax & reassessment Sworn statement that the deed is either (a) a transfer between spouses according to the terms of a settlement agreement or judgment, or (b) a transfer for which no compensation was received, and thus not subject to transfer tax. *Form: $4.95* Both forms — Save 20% The quitclaim deed and the declaration of exemption. *Both forms: $7.95*