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In this state you go to the courthouse and file a lien against the property, not a deed of trust. In fact, this particular state does not use the deed of trust. In the United States, procedures involving real estate are matters of State Law.
What else can I help you with?
What is the definition of house placed into a trust?
A property conveyed to a trust becomes trust property. It can only be conveyed by the trustee of the trust.
If property has been placed in an irrevocable trust but funding runs out for paying the expenses is the trust dissolved?
No
What are some services provided by Washington Trust?
Washington Trust Bank offers various services for its customers. The services that Washing Trust Bank offers include personal banking, wealth management, and loans.
Can a house be placed into a trust if it has a 2nd mortgage on it?
The number of mortgages on a property has no impact on the owner's ability to put the house in a trust.
What are some of the trust services provided by banks?
Banks offer comprehensive range of Trust and discretionary asset management....
Can the executor sell property without all beneficiaries approval in New York state?
No, the executor cannot sell property that is in a trust.First, if the property is owned by a trust then it is not part of the estate and is not under the control of the executor.Second, the property is under the control of the trustee of the trust who must manage the property according to the provisions set forth in the document that created the trust. You need to review that trust document and look for provisions regarding the sale of property.The same person can hold several positions but their position as executor of an estate is separate from their position as the trustee of a trust. As an executor they cannot sell property that was placed in a trust by the decedent.No, the executor cannot sell property that is in a trust. First, if the property is owned by a trust then it is not part of the estate and is not under the control of the executor.Second, the property is under the control of the trustee of the trust who must manage the property according to the provisions set forth in the document that created the trust. You need to review that trust document and look for provisions regarding the sale of property.The same person can hold several positions but their position as executor of an estate is separate from their position as the trustee of a trust. As an executor they cannot sell property that was placed in a trust by the decedent.No, the executor cannot sell property that is in a trust. First, if the property is owned by a trust then it is not part of the estate and is not under the control of the executor.Second, the property is under the control of the trustee of the trust who must manage the property according to the provisions set forth in the document that created the trust. You need to review that trust document and look for provisions regarding the sale of property.The same person can hold several positions but their position as executor of an estate is separate from their position as the trustee of a trust. As an executor they cannot sell property that was placed in a trust by the decedent.No, the executor cannot sell property that is in a trust. First, if the property is owned by a trust then it is not part of the estate and is not under the control of the executor.Second, the property is under the control of the trustee of the trust who must manage the property according to the provisions set forth in the document that created the trust. You need to review that trust document and look for provisions regarding the sale of property.The same person can hold several positions but their position as executor of an estate is separate from their position as the trustee of a trust. As an executor they cannot sell property that was placed in a trust by the decedent.
Can any liens be placed on my home if it's in an revocable trust?
Trust law is extremely complicated. And yes, an improperly drafted trust can leave your property exposed to creditors and taxes. A revocable trust implies that you maintained some control over the property. That may cause the property to be exposed to creditors. The surest way to protect property is with an irrevocable trust. You should consult with an attorney who specializes in trust law and tax law.
What happens if a person dies leaving credit card debts and they have placed all their property into a non-revokeable trust?
The Trustee of the Trust is responsible for paying the debt out of the trust funds.
What is a Trust Res?
The property owned by a trust is the trust res.The property owned by a trust is the trust res.The property owned by a trust is the trust res.The property owned by a trust is the trust res.
Can a lien be placed on a house that is in a trust in Massachusetts?
If there were improvements made on the home or a loan taken out against the property, and they person/company goes through the proper steps, yes. The property being in trust does not affect that ability.
What is the corpus of the trust?
The corpus of the trust refers to the assets placed into the trust by the grantor, which are managed by the trustee for the benefit of the trust beneficiaries. These assets can include real estate, investments, personal property, or any other type of property specified in the trust agreement. The trustee is responsible for managing the corpus according to the terms of the trust for the benefit of the beneficiaries.
What happens upon death of owner of mortgaged property placed in living trust?
I think the key word here is "LIVING" trust. Once a person passes away so does the trust...the Will should determine what is to be done with the property. If no Will is in place..his or her heirs will have to battle it out. Seek advice from an attorney.
