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How long does it take for the trustee to tell you what is going to happen to a piece of property that he could auction or let you buy back or abandon?
Wiki User
∙ 8y ago
there is no set time for such a decision. Although it is everyone's best interest to get all the issues resolved as quickly as possible. The trustee's decision will be made on how encumbered the property is, appraised value, etc.
Wiki User
∙ 8y ago
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What happen to the irrevocable trust after the grantos death?
You need to review the document that created the trust. A trust should contain all the provisions necessary to the management of the trust property by the trustee. It should recite all the powers of the trustee and what should happen to the trust property at the termination of the trust. Title to trust property stands in the name of the trustee who holds title in the name of the trust. The type of trust you refer to usually has detailed instructions as to how the trust property should be distributed upon the death of the grantor and how that property should be transferred by the trustee.
What if you don't pay your school and property tax?
What will happen is that eventually the government will sell your property at auction to recover the unpaid taxes.
What will happen if the trustee to a property dies and he hasn't named another trustee nor allocated funds to beneficiaries under the contract?
Trust law is extremely complicated. You need to have the trust document reviewed by an attorney who specializes in trust law. She/he can advise you concerning what your options are for having a successor trustee appointed.
Can you inherit money when you are bankrupt what will happen?
If the inheritance was based on the death of a person within 6 months of filing bk, then it is part of the bk estate and the trustee will have the power to seize that money/property in order to pay off your creditors.
Trust deed leaves property to 4 adult children Both parents have now passed away If one of four dies who would receive their share?
A trust deed conveys property to a trustee who then holds title to the property according to the provisions of the trust. You need to examine the provisions of the trust document to determine who the beneficiaries are. If the house is the only property in the trust you need to read the actual trust document to determine who the beneficiaries are as recited in the trust document. That trust document controls what the trustee may do with the property and who will inherit a deceased beneficiary's interest. If the trust doesn't mention what will happen if one of the siblings dies then perhaps the trust gives the power to the trustee to convey the property by a deed TO the four siblings. You could then decide how it will be held by the four of you. If the trust states the property should ge distributed to the four children upon the death of the parents then the trustee can convey the property to the four children by deed. If that deed recites that the grantees will hold the property as joint tenants with the right of survivorship and one dies, her share will pass to the remaining siblings. If that deed recites that the grantees shall hold as tenants in common and one dies, her share goes to HER heirs. Therefore, if you get a deed from the trustee passing title to you then you can decide for yourselves how title will be held. If the trust doesn't give the trustee the power to sell then the trust will need to be modified by judge so the property can be conveyed to the heirs. In any case, you should seek legal advice from a probate/real estate attorney to straighten this matter out for you. This situation is subject to your own state laws.
How are tapirs' young cared for?
They are cared by there mother and if they are abandon then they will be cared for by there father which usually might not happen
What are the release dates for Nova - 1974 Escape Because Accidents Happen Abandon Ship 4 26-17?
Nova - 1974 Escape Because Accidents Happen Abandon Ship 4 26-17 was released on: USA: 17 February 1999
Can a co trustee and beneficiary of a living trust quit claim property from trust into own personal trust?
Well, it would take both Trustees to make it happen and you will want to make sure that you are not causing property tax reassessment (if possible), but the answer is generally yes. There is a lot more to trust administration than just the quitclaim deed however.
Private property repossesion?
What will happen when your property is auctioned off?
If you did not make your first monthly payment to the bankruptcy trustee what will happen?
In some cases the trustee will allow a thirty day grace period for the missed payment. Pertaining to a first installment immediate action to dismiss the 13 might be taken. It is for the most part at the discretion of the bankruptcy trustee, missing any payment is reason for dismissal with prejudice.
On howrse what will happen if you bid on a horse and dont have anoth money to pay for it?
If the auction end without a buyer, then the howrse will be returned to you.
Why do you need property insurance?
To protect your property and if anything were to happen to it your insurance can help you finically.
