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Is it legal to transfer property i have in my name to my children's name in form of a trust fund?
Wiki User
∙ 14y ago
yes
Wiki User
∙ 14y ago
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How is the real estate trust registered as owner?
The legal owner of the property must transfer the property by deed to the trustee of the trust. That should only be done by a professional who is familiar with both trust law and conveyancing in your jurisdiction.
What kind of trust can a property go to if it has a reverse mortgage?
You cannot transfer your property to a trust if it is subject to a reverse mortgage. You have already assigned your interest in the property to the lender.You cannot transfer your property to a trust if it is subject to a reverse mortgage. You have already assigned your interest in the property to the lender.You cannot transfer your property to a trust if it is subject to a reverse mortgage. You have already assigned your interest in the property to the lender.You cannot transfer your property to a trust if it is subject to a reverse mortgage. You have already assigned your interest in the property to the lender.
Who has the legal title of the property in a trust?
Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.
Can a living trust override a Quitclaim deed in Oklahoma?
It's certainly a possibility. Quitclaim deeds are the most risky way to transfer property. They do not guarantee that the person transferring the property has clear title or the legal right to take the action making such a transfer open to legal challenge.
Who is the grantor in a living trust?
The grantor in a living trust is the person who executes or creates the trust and then transfers their property to the trustee. After they transfer the property they no longer own it.
Who is grantor in a living trust?
The grantor in a living trust is the person who executes or creates the trust and then transfers their property to the trustee. After they transfer the property they no longer own it.
Do trustees hold legal titles to trust assets?
Yes. A trust is set up for the purpose of enabling the legal title of the trust property to be held by the trustees. The trustees have the legal power to deal with the trust property according to the provisions set forth in the trust document only.
Can property held in a trust be seized by a court order?
Yes. There are circumstances whereby a court can order the transfer of property held in a trust.
Can real estate that is deeded to an irrevocable trust be sold by the owner?
Absolutely not. The person who transferred the property to an irrevocable trust no longer owns the property. Their deed would be null and void. The trust can sell the property as long as that power was granted to the trustee in the Declaration of Trust. For an effective transfer of the property the deed of transfer must be executed by the trustee.
Can one get a loan on property in a revocable trust?
The trustee holds the legal interest in the property according to the terms of the trust. The trustee may mortgage the property if that power was granted in the trust instrument.
Can you make your house a family trust?
You can have a family trust drafted by an attorney who specializes in trust law in your state. Then you can transfer the title to your real property by deed to the trusteeof the trust. You should not make any transfer until you have discussed your options and the consequences with a legal expert. Errors made by non-professionals in this type of situation can be extremely costly to repair down the road.
Who owns a trust?
A trust isn't something that is owned. A trust is a legal arrangement by which one entity holds legal title to property for another. The grantor of trust, or the entity that created the trust, may think in terms of owning the trust in the case of a revocable trust, however, the title to the trust property is always held by the trustee.
