If a home does not sell at auction it goes back to the trustee....(The bank / Lender). Typically the property transfers back at the starting bid...so in actuality it did indeed sell.
You need to check the document that created the trust to find your answer. All the provisions of a trust and the powers of the trustee are set forth in that trust document. It creates a self governing entity. The trustee can only perform the functions set forth in the declaration. If the trustee has the power to sell real estate the trustee can execute a deed that conveys the property to a new owner. If there is no power in the trustee to transfer real estate explicitly recited in the trust document, then you will need to petition a court to issue a license to sell the real estate or reform the trust to include a power of sale.
The grantor has no control over the assets in an irrevocable trust. Those assets are under the control of the trustee.
There are lots of businesses that sell cheap home furniture.In the United Kingdom there is a shop called Argos.These sell cheap home furniture and lots of other items.
A corporate trustee is exactly what the term implies: A trustee that is a corporation rather than a person. Although it will vary from state to state depending on that state's laws, a trustee may be any type of recognized legal entity such as a person or corporation. Sometimes corporations such as banks are made trustees of large trusts to take advantage of their expertise in investing and handling assets. Such a trustee will be referred to as a corporate trustee.
who has power to sell a home, deed holder or a trustee?
If the trustee was instructed to sell the property by the trustor- yes.If the trustee was instructed to sell the property by the trustor- yes.If the trustee was instructed to sell the property by the trustor- yes.If the trustee was instructed to sell the property by the trustor- yes.
If a home does not sell at auction it goes back to the trustee....(The bank / Lender). Typically the property transfers back at the starting bid...so in actuality it did indeed sell.
Can you sell a real estate property titled in trustee after mother and father dies
If you are in the midst of a bankruptcy proceeding the title to all your property is in the trustee. You can't sell any property. You should direct any questions to your attorney or to the trustee in bankruptcy.
If the property is owned by the trust, the trustee must execute a deed from the trust to you. In order to execute a validdeed the trustee must be given the power to sell real estate in the document that created the trust. Once the deed to you has been executed and recorded in the land records you will be the record owner and you can sell the property by executing a deed in favor of the purchaser.A deed from a trust should be executed in the trustee's name as the trustee of the trust. The grantor on the deed should be recited as, "Buddy Guy, as the Trustee of the Best Blues Trust" grants to BB King . . . ."
A trustee doesn't have anything to buy or sell. If the property was left to the two, he can buy out the other party if they agree to it.
I assume you are talking about a deed of trust. This is because the lawyer was appointed trustee of the deed of trust. If you fail to make the payments, that lawyer, or another lawyer appointed by the lender (a successor trustee) may sell the home.
Unless the house was owned free and clear by the debtor, the trustee does nothing. The mortgagee forecloses and auctions the house off. If there was no mortgage, the trustee will either sell the house or auction it off.
The direct succesor to the Ford Escort is the Ford Focus. The direct succesor to the Ford Escort is the Ford Focus. The direct succesor to the Ford Escort is the Ford Focus.
1000
no it was sent to a trustee to sell