Can a trust exist where there is no trust deed?
A court can impose a trust on equitable grounds against someone who obtained property through wrongdoing. The wrongdoer is reduced to a trustee and the title is restored in the rightful owner. This is called a constructive trust.
Generally, a trust exists by virtue of a document that sets forth the provisions of the trust, names the trustee(s) and adheres to the state requirements for a valid trust. That document is commonly called a Declaration of Trust. A trust exists independently whether it owns property or not.
Any property that is to be held in trust by the trustee must be transferred to the trust. If that property is real estate, the owner must execute a deed that transfers title to the trustee of the trust. By doing so the owner is giving up ownership. If there is no deed to the trustee then the real estate is not part of the trust property. The deed to the trustee is referred to as a trust deed or deed of trust. When the property is transferred out of the trust by the trustee that deed is called a trustee's deed.
In some jurisdictions a trust deed or deed of trust is the term used to describe a mortgage.
Nothing essentially happens to the 2nd deed of trust unless the property actually goes to sale and the foreclosure does not get cured by either the Trustor or the beneficiary of the 2nd deed of trust. In that case the 2nd deed of trust would cease to exist and drop off title at time of the sale of the property. Read More
Yes. A deed of trust is similar to a mortgage. Read More
A deed is the instrument used to transfer title to real estate. A deed of trust transfers property to someone to be held in trust for another. A deed of trust can have different meanings in different jurisdictions. In some states a deed of trust has the effect of a mortgage. A trustee holds the property until the debt has been paid. In other jurisdictions a deed of trust is a deed that transfers real… Read More
A general warranty deed is a deed form that can be used to transfer ownership of land between any parties. A deed of trust only refers to a deed that transfers land to be held in trust. Or, in some states a deed of trust refers to a mortgage. Read More
Land can be removed from a trust by a deed from the trustee. Read More
If the holder of second trust deed forecloses first does it have to pay off the full amount owed to the first trust deed?
If the holder of the second mortgage, or deed of trust, forecloses, that lender takes the property subject to the first mortgage or deed of trust. Read More
A deed of trust is the form for a mortgage in some states. Only the original parties to the transaction can amend it. Amending a deed of trust may require a reconveyance by the trustee. A deed of trust is the form for a mortgage in some states. Only the original parties to the transaction can amend it. Amending a deed of trust may require a reconveyance by the trustee. A deed of trust is… Read More
The only effective deed is a deed signed by the current owner of the property or in the case of a trust, the current trustee of a trust that owns property. If the owner conveys property by a deed after they have granted a mortgage by a trust deed the property is subject to the mortgage and if it's not paid the lender can take possession of the property. The only effective deed is a… Read More
Generally, the term deed of trust can have different meanings in different jurisdictions and different transactions affecting land: The deed that conveys real property from an individual owner TO the trustee of a a trust that has been created in a separate trust document is called a deed of trust. In a different scheme a deed can convey real property from an individual to another individual AS THE TRUSTEE FOR someone else and then set… Read More
You can transfer a deed to a family trust with a few steps. First, you need a copy of the deed and a deed template. You will need to then fill in trust name, property description, and price if not gifted. A notary has to see you sign the deed and then file the paperwork with the county. Read More
A trust is an agreement. You cannot "modify" a trust by a deed. Trusts are modified by amendments to the trust. Property can be removed from a trust by a deed executed by the trustee if the trustee has been given the power to sell real estate. Read More
A contract is a binding agreement to purchase and sell land. A deed of trust is the document that actually transfers the title to the land to the new owner if the new owner is a trust. In some jurisdictions a deed of trust is the document that secures property for a loan, similar to a mortgage. Read More
Only a judge can nullify a deed of trust by issuing a court order to that effect. Only a judge can nullify a deed of trust by issuing a court order to that effect. Only a judge can nullify a deed of trust by issuing a court order to that effect. Only a judge can nullify a deed of trust by issuing a court order to that effect. Read More
You have the trust and deed drafted by an attorney who specializes in trust law. Trust errors made by non-professionals can be extremely costly to correct IF they can be corrected. Read More
You can transfer your real property to the trustee of a trust using a quitclaim deed. Read More
Generally, the fee owner of the property is responsible for paying the property taxes. That would be the grantee in the deed of conveyance. In this case the 'deed of trust' is assumed to be a mortgage. Read More
A grant deed is an instrument used to transfer an interest in real estate to a new owner. In some jurisdictions this is called a warranty deed. In some jurisdictions, a deed of trust is an instrument recorded by a lender as security for a loan. This is commonly referred to as a mortgage. In other jurisdictions a deed of trust may be used to refer to a deed that transfers real property to a… Read More
A deed of trust is a deed that transfers ownership of real estate to a trust. Suppose William owns land and wants to transfer it to a trust in order to remove it from his individual ownership. William must have a trust drafted by an attorney and could name it the William's Family Trust. All the legally necessary provisions of the trust would be set forth in the trust document and a trustee would need… Read More
How could you borrow against a deed of trust? A deed of trust is similar to a mortgage. When you borrowed money to purchase your property, you signed a deed of trust instead of a mortgage. They are almost the same thing except for the foreclosure proceedings. You pay off the deed of trust just like you do a mortgage. Now, whether you could borrow more money from it or if you could establish a… Read More
The grantor can change the Deed of Trust if those are the terms of the agreement. If the real estate isn't paid off or it is repossessed the deed will change hands. Read More
An All Inclusive Deed of Trust (AIDOT) is an instrument made that encompasses an existing encumbrance (mortgage/Deed of Trust (DOT) with new terms irrespective of the existing [underlying] promissory note and DOT. Read More
Generally no. A trustee's deed is usually a quitclaim deed that transfers the interest of the trust in the property and warrants against any encumbrances that arose during the time the property was owned by the trust. Read More
Should a second deed of trust be listed on the property title or first deed of trust and does that then make the property NOT fee simple marketble title?
Both Deeds of Trust are listed in a title report. Ist Deed of Trust, fisrt position, second deed of trust, second position. Both liens will have to be paid off with a sale to clear the titl and they boths have to be shown prior to any sale, loan or refinance. Read More
No. You cannot remove someone's name from a deed without them knowing. The person would need to sign a deed to release their interest in the property. A deed of trust is a conveyence to the trustees of a trust. The authority of the trustees to convey real estate should be set forth in the trust document. In order to pass clear title to the real estate the provisions in the trust document must be… Read More
A deed of trust is used in North Carolina in place of a mortgage. It is now the same thing. At one time it was not. Read More
No. A rider adds to the document, and perhaps changes some of the original provisions. Read More
If the property is owned by the trust, the trustee must execute a deed from the trust to you. In order to execute a valid deed 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… Read More
If the property was in trust when it was granted, then the deed would override the trust because the trustee no longer controls it. Similarly, if your will says your children get your house, but you sell it before you die, then the deed overrides the will. but if the trust was not dissolved and a will is processed when the person dies who has the right to the property . the trustee of the… Read More
No. If the trust was created to hold the real property then the trustee of the trust will be listed as the owner. If the beneficiaries are listed in a deed as the owners the property will no longer be held in trust. The property must be held in the name of the trust OR the name of the beneficiaries of the trust as individuals. Read More
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. Read More
A deed of trust is similar to a mortgage. A husband does not "hold" ownership by a deed of trust. Ho holds title by virtue of a deed showing him as the grantee. He would grant (and sign) a deed of trust in order to borrow money using the property as security for the loan. If both husband and wife hold title then both must sign the deed of trust. If only the husband holds… Read More
Can the husband rent the house if he has the mortgage in just his name if they both share the deed of trust?
Yes, the husband can rent the house if he has the Mortgage in his name but the Deed of Trust is shared. Read More
In the state of California, a Living Trust will override a grant deed. You should speak to a lawyer to draw one up. Read More
NO. Ownership of real estate is evidenced by a deed recorded in the land records. If you don't want your name on the deed then you need to arrange to have the title held by another entity such as the trustee of a trust. In that case, the property would be owned by the trust. Read More
You will need a Warranty or Quit claim deed. I strongly recommend that the deed be prepared by an attorney or escrow agent. The deed will list you as a grantor and the Trustee of the revocable as the grantee. You must sign the deed and follow through with any requirements to complete the transaction. If you fail to complete this procedure, you still own the property and the trust does not. This can be… Read More
The trustee would need to execute a deed, or, that trustee can be removed and a new trustee can be appointed according to the provisions in the trust. Whoever is the valid trustee of the trust holds title to any real estate properly transferred to the trust. Read More
Your phrase does not make sense. A quitclaim is a deed. A trust does not deed out TO a quitclaim. You need to clarify your question by adding more details. Read More
A supplemental deed of trust is a document that embodies the agreement of a secured real estate transaction. The property title is transferred to a trustee that holds it as security for the loan. Read More
is an investment fund established under a trust deed whereby the trust sells units in the in the trust to investors. Read More
No. The trustee of the trust holds title to any trust property. That is the purpose of the trust. Read More
The trust document should have a provision by which the trustee can transfer the property. You must follow the provisions in the trust for transfer by the trustee. Generally, in order to remove real property from a trust the trustee must execute a deed that conveys the property to a new owner. Read More
If a trustee is required to sell the real estate the trust holds under the terms of a trust established by a will what type of deed will be delivered at the settlement of the sale?
The property must be conveyed by a 'trustee's deed'. For example, the grantor on the deed should be stated as Robert Smith as Trustee of the Smith Family Trust as set forth in a Declaration of Trust dated November 12, 2005. A Trustee's Certificate to accompany the deed is required in most jurisdictions. The certificate must identify the trust and trustee and certify the trustee knows of no amendments or changes to the trust, that… Read More
There are different meanings for deed of trust. Deeds of Conveyance: A deed of trust should always recite the trustee as the grantee. Many people, including professionals, recite the trust as the grantee. An example would be land conveyed to the Take Five Trust. That is incorrect. A trust cannot act. It must have a trustee to conduct its business. Title to any real estate owned by a trust is held by the trustee. That… Read More
No, they cannot deed property to a minor. They can deed the property to a trust on behalf of the minor. Consult an attorney in your jurisdiction for specifics. Read More
Depends on how it is written in the deed or if you are referring to a deed at all, are you referring to a trust? Read More
The present owner of the property is the grantor and the trustee of the trust is the grantee. The grantor in the deed should be recited exactly the same as in their acquisition deed when they first acquired the property. The grantee should be recited as, " to Jill Smith as trustee of the Smith Family Trust under a Declaration of Trust dated June 18, 2009". Read More
This might indicate that at least part of the ownership was held in trust, and the trustee represents the trust. One or more authorized trustees of the trust must sign the deed or authorize someone else to sign with a proper power of attorney. Read More
SInce the first is in a superior position, nothing happens to the first. Any purchaser at the foreclosure sale would then have to pay off the first deed of trust. Read More