Fill and Sign the Rescission Form

© 2016 - U.S. Legal Forms, Inc. CALIFORNIA DEED OF RESCISSION [Family Limited Partnership to Husband and Wife] Control Number: CA-SDEED-8-29 I. TIPS ON COMPLETING THE FORMSThe form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. II. BASIS OF EXEMPTION FROM TRANSFER TAX The following is a list of real estate transactions that are exempt from the documentary transfer tax: 1. Conveyance Confirming Title in Grantee: “This conveyance confirms title to the grantee(s) who continue to hold the same interest acquired on Date __________, Document No. wherein $ __________Documentary Transfer Tax was paid, R & T 11911.” 2. Conveyance in Dissolution of Marriage: “This conveyance is in dissolution of marriage by one spouse to the other, R & T 11927.” 3. Conveyance to Secure a Debt: “This conveyance is to secure a debt, R & T 11921.” 4. Reconveyance upon Satisfaction of a Debt: “This is a reconveyance of realty upon satisfaction of a debt, R & T 11921.” 5. Conveyances transferring Interests into or out of a Living Trust: “This conveyance transfers an interest into or out of a Living Trust, R & T 11930.” 6. Conveyance Changing Manner in Which Title is Held: “This conveyance changes the manner in which title is held, grantor(s) and grantee(s) remain the same and continue to hold the same proportionate interest, R & T 11911.” 7. Court Ordered Conveyances Not Pursuant to Sale: “This is a court-ordered conveyance or decree that is not pursuant to sale, R & T 11911.” 8. Conveyance Given for No Value: “This is a bonafide gift and the grantor received nothing in return, R & T 11911.” 9. Conveyance to Establish Sole and Separate Property of a Spouse: “This conveyance establishes sole and separate property of a spouse, R & T 11911.” 10. Conveyance to Confirm a Community Property Interest when property was purchased with Community Property Funds: “This conveyance confirms a community property interest, which was purchased with Community Property Funds, R & T 11911.” 11. Conveyances to Confirm a Change of Name: “This conveyance confirms a change of name, and the grantor and grantee are the same party, R & T 11911.” 12. Conveyances of an Easement or Oil and Gas Lease Where the Consideration and Value is Less Than $100.00: “This is a conveyance of an easement (Oil and Gas Lease) and the consideration and value is less than $100.00, R & T 11911.” 13. Conveyances Where the Liens and Encumbrances Are Equal or More Than the Value of Property, and No Further Consideration is Given: “The value of the property in this conveyance, exclusive of liens and encumbrances is $100.00 or less, and there is no additional consideration received by the grantor, R & T 11911.” 14. Conveyances from a Trustee Under a Land Contract at the Consummation of the Contract: “This is a conveyance of equitable title from a trustee, under a land contract, to the vendee at the consummation of the contract, R & T 11911.” 15. Conveyance from Individual(s)/Legal Entity(ies) to Individual(s)/Legal Entity(ies) Where the Grantors and Grantees Are Comprised of the Same Parties, and Parties Continue to Hold the Same Proportionate Interest. (Exception: Dissolution of a Partnership. R & T 11925[b]): “The grantors and the grantees in this conveyance are comprised of the same parties who continue to hold the same proportionate interest in the property,R & T 11925(d).” NOTE: IF the transfer qualifies for exemption under one of the above categories, this should be noted on the face of the deed in the space provided. For example: This transfer is exempt from the documentary transfer tax based on: This conveyance is in dissolution of marriage by one spouse to the other, R & T 11927. III. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the subject state. All information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Deed of Rescission Page 1 of 3 Recording requested by: And, when recorded, mail this deed and tax statements to: Name: City, State & Zip: Phone: DEED OF RESCISSION [Family Limited Partnership to Husband and Wife] TRA: APN: This transfer is exempt from the documentary transfer tax based on: The documentary transfer tax is $ City Tax, if any: $ County Tax, if any: $ and is computed on: the full value of the property conveyed. the full value less the liens and encumbrances remaining thereon at the time of sale The property is located in an unincorporated area the city of KNOW ALL MEN BY THESE PRESENTS THAT: THAT WHEREAS ________________________ and ________________________, Husband and Wife, of the County of __________________, State of __________________, did, on or about the ______ day of ____________, ____________, execute and deliver to ______________________________, a Family Limited Partnership, organized and existing under the laws of the State of ________________________, a conveyance of certain lands, situated in ____________ County, State of California, and recorded in Volume ______, Page ______, or in ____________, of the Deed Records of ____________ County, California, a copy of which is attached hereto as Exhibit “A” and incorporated herein for any and all purposes, and this being the conveyance which the parties now wish to rescind; and whereas, it being mutua lly agreed that it is appropriate to rescind said conveyance for all purposes; NOW, THEREFORE, the said Grantor, ______________________________, a Family Limited Partnership, organized and existing under the laws of the State of ________________________, in consideration of the premises aforesaid, does hereby grant, bargain, sell, and convey unto ______________________________ and ______________________________, Husband and Wife, as community property or as joint tenants with right of survivorship, of the County of __________________, State of Deed of Rescission Page 2 of 3 __________________, hereinafter Grantees, all of the tract of land situated in the County of ____________, State of __________________, which is more particularly described in the said Exhibit “A”. AND THE SAID Grantor will only warrant and forever defend the right and title to the above described property unto the said Grantees against the claims of persons claiming through or under Grantor, but against no other claims or encumbrances of any kind. This is a deed of rescission, given and accepted as such in order to rescind said earlie r deed dated on the ______ day of __________________, 20______, and it shall be effectual as of and retroactive to such date. IN WITNESS WHEREOF , this instrument is executed on this the ______ day of ____________, 20______. A Family Limited Partnership By: Print or Type Name State of California County of On , 20 before me, (here insert name and title of the officer), personally appeared , who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity, and that by his signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature (Seal) Deed of Rescission Page 3 of 3 Grantor(s) Name, Address and phone: Grantee(s) Name, Address and Phone: Deed of RescissionExhibit A EXHIBIT A Grantor: Grantee: Legal Description: