Assignment of Beneficial
ASSIGNMENT OF BENEFICIAL INTEREST IN TRUST
The undersigned (“Assignor”), for $[ASSIGNMENT FEE] received in hand and other valuable consideration received, hereby assign all right, title and interest in the beneficial interest, including the power of direction and revocation, under a certain Trust Agreement created [DATE TRUST CREATED] by and between [TRUST GRANTORS] as grantor(s) and [TRUSTEE] as Trustee(s) known as the “[TRUST NAME]”, which owns title to certain real property located at [TRUST PROPERTY ADDRESS] in the County of [TRUST PROPERTY COUNTY] State of [TRUST PROPERTY STATE] to [ASSIGNEE NAME], (“Assignee”) whose address is [ASSIGNEE ADDRESS].
I/We hereby affirm and warrant that the beneficial interest assigned herein is 100% of the total beneficial interest in the aforesaid Trust, and that I/We have the full power and authority to assign and transfer said interest. We further agree to waive any right to revoke or amend said trust or in any way to direct, influence or control the actions of the trustee(s) which would create an ownership interest as defined in Section 671-678 of the Internal Revenue Code. We intend this transfer to be as transfer of real estate for federal income tax purposes, and we agree to report the same to the Internal Revenue Service. We further understand that if the real property held in trust is encumbered by a security instrument containing a “due-on-sale” provision, that this assignment may violate said security instrument, giving the holder of said security instrument the right to call any underlying debt due and payable.
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AssignorAssignor
STATE OF _ )
)ss:
COUNTY OF )
On , 20 , before me, , a notary public in and for said state personally appeared [ASSIGNORS], personally known to me (or proved to me based upon satisfactory evidence) to be the person(s) whose name(s) are subscribed to the within instrument and acknowledged that (s)he/they executed the same in his/her/their signature on the instrument the person(s) or entity on behalf of which they acted, executed the instrument.
Witness my hand and official seal
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NOTARY PUBLIC
My commission expires ______NOTARY SEAL
I accept the foregoing assignment of beneficial interest subject to all of the terms and conditions of the trust agreement and addendum thereto.
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Assignee
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Assignee
I have received a copy of this assignment of beneficial interest and acknowledge the validity of said assignment subject to all of the terms and conditions of the trust agreement and addendum thereto.
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[TRUSTEE] , Trustee
BILL OF SALE
BE IT KNOWN, that [ASSIGNORS] hereinafter referred to as "First Party", for and in consideration of the sum of $[ASSIGNMENT FEE] and other good and valuable consideration, has received in lawful money of the United States from [ASSIGNEES] hereinafter referred to as "Second Party", the receipt whereof is hereby acknowledged, has granted, bargained, sold, transferred, and delivered, and by these presents does grant, bargain, sell, transfer and deliver to Second Party, all executors, administrators and assigns, the following goods and chattels:
Beneficial under a certain Trust Agreement created [DATE TRUST CREATED] by and between
[TRUST GRANTORS] as grantor(s) and [TRUSTEE] as Trustee(s) known as the “[TRUST NAME]”, which owns title to certain real property located at [TRUST PROPERTY ADDRESS] in the County of [TRUST PROPERTY COUNTY] State of [TRUST PROPERTY STATE], plus any and all appliances, fixtures and personal property thereon, TO HAVE AND TO HOLD forever.
The undersigned does, for himself and his heirs, executors and administrators, covenant to and with the Second Party, all executors, administrators and assigns, that he is the lawful owner of the said goods and chattels, free from all encumbrances; that he has the right to sell the same, and that he will warrant and defend the sale of said property, goods and chattels hereby made, against the lawful claims and demands.
IN WITNESS WHEREOF, the undersigned has hereunto set hand and seal this day of
, 20 .
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First PartyFirst Party
STATE OF _ )
)ss:
COUNTY OF )
On , 20 , before me, , a notary public in and for said state personally appeared [ASSIGNORS], personally known to me (or proved to me based upon satisfactory evidence) to be the person(s) whose name(s) are subscribed to the within instrument and acknowledged that (s)he/they executed the same in his/her/their signature on the instrument the person(s) or entity on behalf of which they acted, executed the instrument.
Witness my hand and official seal
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NOTARY PUBLIC
My commission expires ______NOTARY SEAL