Jerry Taylor explains how to pass a home to your children without probate: put it in a revocable living trust while you're alive. If the home is titled in the trust at death, the successor trustee can sell it immediately. Federal law protects against the lender's due-on-sale clause when you transfer the property to the trust.
What's going to be the best way to transfer your home to your kids after you're gone? The way to do that with the lowest risk of something bad happening is to transfer your home to a revocable living trust during your lifetime. If your home is titled in the name of your revocable living trust at the time you die, your successor trustee, that's the person that you name to come and handle everything, will have the authority to sell that home from the trust the next day. On the other hand, if that home is in your name alone when you die, the person in charge of your estate will have to spend months and maybe years in probate before they can sell the home. Many people are concerned about whether they can put their home into a revocable living trust if it has a mortgage on it. There is federal law that allows that to happen, and it will prevent the mortgage company from exercising their due-on-sale clause. The easiest way to put your home in the trust is by using a quitclaim deed in most states, where you transfer the home from your name to the name of your trust. Once that's done and filed in the land records office, your home is
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