Using a QUIT CLAIM DEED, you can donate properties (transfer ownership) to UNAs without the “Due on Sale” clause being triggered by the lender (if mortgaged) per the Garn-St Germain Act of 1982, because: 1)UNAs are considered LIVING REVOCABLE TRUSTS (blind trusts) by county recorders and, 2) “the transfer is done for financial planning purposes.” Important – you are not SELLING your property, you are donating/transferring it for financial planning purposes. Banks cannot call the loan due. When you transfer your property into the UNA there is no transfer of rights of occupancy to the property. This is a specific exception under the Garn-St Germain Act.
What is a quit claim deed? A quit claim deed is related to real estate. It is used to transfer interest, ownership, or rights to the property from one party to another. The person giving away their claim on the real estate is known as the grantor (you), while the person/entity receiving the property is called the grantee (the UNA).
You Can Benefit by Transferring Property into a UNA
1. When you transfer property into a UNA, it no longer belongs to YOU and is NOT associated with your SS number. It is INVISIBLE if you should have Bankruptcy/Creditor, or Liability problems.
2. Selling property just increases the Reserves of the UNA, and is not considered Capital Gains.
3. UNA owned property can be passed on with a "RIGHT OF SURVIVORSHIP" document held in the PRIVATE and outside governmental oversight.
4. You have no Liability associated with UNA's that you manage because you do not OWN it.
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