quit claim deed prevails
Can you sell a real estate property titled in trustee after mother and father dies
You mentioned an estate and a trust. I assume the estate was transferred to a trust upon the death of the testator.You must review the terms of the trust to determine if there is a provision for the appointment of a successor trustee. The provisions set forth in the document that created the trust are the only rules that can be followed in managing the trust property. They spell out the powers of the trustee and should address every situation. The trust owns the property and manages it through a human being, the trustee. If there are no provisions for terminating the trust or appointing a successor trustee then a court must create those powers via a court order. You should consult with an attorney if you need expert help in interpreting the trust.
A trust is a legal relationship whereby an individual (the trustor) or group of individuals transfers title to their property to a trustee. The purpose is to protect the property from creditors, relatives, any claims or liens made against the individuals, to remove property from an individual's estate, to control how the property will be distributed at death, to minimize taxes, to protect assets from a spendthrift child or beneficiary, etc. The trustee must manage the trust property, pay over the profits from and protect the property according to the terms set forth in the trust instrument.A successor trustee is named to take over the responsibilities and powers of a trustee who has died, resigned or can no longer act for the trust.A trust is a legal relationship whereby an individual (the trustor) or group of individuals transfers title to their property to a trustee. The purpose is to protect the property from creditors, relatives, any claims or liens made against the individuals, to remove property from an individual's estate, to control how the property will be distributed at death, to minimize taxes, to protect assets from a spendthrift child or beneficiary, etc. The trustee must manage the trust property, pay over the profits from and protect the property according to the terms set forth in the trust instrument.A successor trustee is named to take over the responsibilities and powers of a trustee who has died, resigned or can no longer act for the trust.A trust is a legal relationship whereby an individual (the trustor) or group of individuals transfers title to their property to a trustee. The purpose is to protect the property from creditors, relatives, any claims or liens made against the individuals, to remove property from an individual's estate, to control how the property will be distributed at death, to minimize taxes, to protect assets from a spendthrift child or beneficiary, etc. The trustee must manage the trust property, pay over the profits from and protect the property according to the terms set forth in the trust instrument.A successor trustee is named to take over the responsibilities and powers of a trustee who has died, resigned or can no longer act for the trust.A trust is a legal relationship whereby an individual (the trustor) or group of individuals transfers title to their property to a trustee. The purpose is to protect the property from creditors, relatives, any claims or liens made against the individuals, to remove property from an individual's estate, to control how the property will be distributed at death, to minimize taxes, to protect assets from a spendthrift child or beneficiary, etc. The trustee must manage the trust property, pay over the profits from and protect the property according to the terms set forth in the trust instrument.A successor trustee is named to take over the responsibilities and powers of a trustee who has died, resigned or can no longer act for the trust.
You need to review the document that created the trust to determine how that transfer must be handled. There should be a provision that directs how to appoint a successor trustee. The property can be transferred by a successor trustee as long as the power to sell or transfer real estate is granted in the trust. If there is no such provision you need to take the matter before a judge in a court of equity. You should contact an attorney who specializes in real estate law who can review the trust and explain your options.
The trustee under a will MUST distribute the estate according to the provisions in the will. The trustee does NOT have the authority to make gifts to non-beneficiaries unless that power was granted in the testamentary trust. The trustee should be reported to the court that appointed her/him for mishandling their authority and the estate. You should ask the court to appoint a successor trustee.
The property is now part of your sister's estate.
The trustee of the trust holds title to the real estate. The trustee can transfer the property according to the provisions set forth in the trust.
No, you are not PERSONALLY liable for your mother's debts. Debts of the deceased are paid from the estate, so as the Trustee for that estate, you would have to see that the debts are paid from the estate. Creditors must file a claim against the estate to be paid, and state laws dictate the time limit for filing such claims.
No. The property is not a part of the estate of the executor.The court must be notified of the death and a successor must be appointed. The court will appoint the alternate as long as they are willing to serve.No. The property is not a part of the estate of the executor.The court must be notified of the death and a successor must be appointed. The court will appoint the alternate as long as they are willing to serve.No. The property is not a part of the estate of the executor.The court must be notified of the death and a successor must be appointed. The court will appoint the alternate as long as they are willing to serve.No. The property is not a part of the estate of the executor.The court must be notified of the death and a successor must be appointed. The court will appoint the alternate as long as they are willing to serve.
First, a trustee is the trustee of a TRUST. The house may be trust property. The powers of a trustee are set forth in the trust document. If the house is owned by the trust and the trustee has the power to sell real estate then yes, a trustee can convey the house.
If the custodian is the custodian or successor of the UGTMA in the event of the custodians death - yes by definition that is the custodians responsibility. If the custodian is, for example, the custodian of the estate of the adult who had custodial control of the UGTMA account the situation is different. A successor trustee is normally required when setting up the custodial account. If so, that successor custodian as named in the UGTMA account would have those powers. In this example, if the successor custodian is different on the UGTMA account than the custodian or trustee of the estate, the UGTMA account successor custodian would take precedence. Remember, the assets are in the minors estate not the custodians.
Yes. The trustee must sign the mortgage as the owner of the property.