TRUST NAME
DECLARATION OF TRUST
Dated TRUST SIGNING DATE
Part 1. Trust Name
This revocable trust is named the TRUST NAME.
Part 2. Creation of the Trust
YOUR NAME, referred to in this document as the grantor, creates this trust and places with the trustee the grantor's interests in the assets identified on Schedule A. Assets properly held under this document are called trust property.
The trustee accepts responsibility for trust property and agrees to hold and manage it under this Declaration of Trust. The grantor may add other property or ownership interests to the trust later.
Part 3. Meaning of This Document
References to this Declaration of Trust include any later amendment that is validly made under its terms.
Part 4. Changes and Revocation
While legally able to do so, the grantor may amend or revoke this trust in a manner permitted by this document and applicable law.
Part 5. Use of Trust Property During the Grantor's Lifetime
During the grantor's lifetime, the trustee shall use or distribute trust income and principal for the grantor as the grantor requests, subject to applicable law and the terms of this trust.
Part 5A. Beneficial Interest and Homestead Occupancy
During the grantor’s lifetime, the grantor shall remain a current beneficiary of the trust with respect to any residence held in the trust for the grantor’s use and shall retain the present beneficial interest in that residence.
The grantor shall have the enforceable right to use and occupy the residence as the grantor’s principal residence, rent free and without charge, except for property taxes, insurance, utilities, maintenance, repairs, and other expenses stated in this trust, for the grantor’s lifetime or until this trust is lawfully revoked or terminated.
If there are two grantors, each grantor shall have these rights during that grantor’s lifetime. After the first grantor dies, the surviving grantor shall retain the right to use and occupy the residence under this trust for the surviving grantor’s lifetime. The acting trustee shall manage the property subject to these rights.
A grantor’s incapacity or replacement as trustee shall not, by itself, end or transfer that grantor’s beneficial interest or right to occupy the residence.
The blurry words become clear when the document is downloaded.
Part 6. Trustees
YOUR NAME shall serve as the original trustee. If YOUR NAME dies or becomes unable to serve, SUCCESSOR TRUSTEE shall become successor trustee.
Part 7. Trustee Management Powers and Duties
The trustee has the powers given by applicable law and this trust, subject to the trustee's duties to the grantor and beneficiaries.
Part 8. Incapacity
If a grantor becomes unable to manage the trust, a successor trustee may act only after the conditions required by this trust and applicable law are met. Taking office as successor trustee does not end or transfer the grantor’s beneficial interest or right to occupy the residence under Part 5A. If there are two grantors, the capable grantor shall continue serving as trustee to the extent provided by this trust.
Part 9. Death of the Grantor
After the death of the grantor, or after the death of the surviving grantor if there are two grantors, the acting trustee shall protect and manage the trust property, pay lawful trust expenses and obligations, and continue holding the residence in the trust for the beneficiary named in Part 10, subject to the terms of this trust and applicable law. The residence shall not be distributed out of the trust solely because the last surviving grantor has died.
Part 10. Beneficiaries
BENEFICIARY shall become the beneficiary of the remaining trust property after the death of the grantor, or after the death of the last surviving grantor if there are two grantors. Any residence remaining in the trust shall continue to be held and administered by the acting trustee for the beneficiary under the terms of this trust. Any homestead property-tax exemption after the grantor’s death depends on the beneficiary’s own eligibility and any required application.
Part 11. Governing Law
This trust shall be interpreted under the law applicable to the trust and the particular asset or transaction.
Grantor's address: YOUR ADDRESS
Signed on TRUST SIGNING DATE.
YOUR NAME, Grantor and Trustee
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
SPECIAL WARRANTY DEED
NOTICE OF RECORDING
After recording return to: RETURN NAME AND ADDRESS
Phone: PHONE
PREPARED BY
PREPARED BY NAME AND ADDRESS
STATE OF TEXAS
COUNTY OF COUNTY
GRANTOR
CURRENT OWNER NAME
Grantor's Mailing Address: YOUR MAILING ADDRESS
GRANTEE
TRUST NAME dated TRUST SIGNING DATE
Grantee's Mailing Address: TRUST MAILING ADDRESS
CONSIDERATION
Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are acknowledged.
Grantee is a qualifying trust as defined in Section 11.13(j) of the Texas Tax Code.
The blurry words become clear when the document is downloaded.
PROPERTY
The real property situated in COUNTY County, Texas, commonly known as PROPERTY ADDRESS. Account Number: ACCOUNT NUMBER.
Legal description of the property:
LEGAL DESCRIPTION
RESERVATIONS AND EXCEPTIONS
Subject to all validly existing easements, restrictions, reservations, covenants, and other matters of record affecting the Property.
Grantor, for the consideration stated above, grants, sells, and conveys the Property to Grantee, together with all and singular the rights and appurtenances belonging to the Property, to have and to hold the Property to Grantee and Grantee's successors and assigns forever.
Grantor binds Grantor and Grantor's heirs, successors, and assigns to warrant and forever defend all and singular the Property to Grantee and Grantee's successors and assigns against every person lawfully claiming or to claim the same or any part thereof, by, through, or under Grantor, but not otherwise, subject to the Reservations and Exceptions stated above.
This deed was prepared based on information furnished by the Grantor. No title search has been made.
Executed effective SIGNING DATE.
CURRENT OWNER NAMEGrantor
ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF COUNTY
This instrument was acknowledged before me on ____________________, 20____, by CURRENT OWNER NAME.
Notary Public, State of Texas
