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Can a co trustee buy quit claim property from trust and transfer into own personal trust?
Wiki User
∙ 10y ago
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.
Wiki User
∙ 15y ago
Wiki User
∙ 10y agoCan a co trustee of a living trust quit claim property from a family living trust into her own personal trust
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Can I file a quick claim on a deed in trust?
You can transfer your real property to the trustee of a trust using a quitclaim deed.
Can you include a house in a chapter 7 bankruptcy if you already quit claimed it?
No, not if the quit claim was a legal transfer under the BK laws. If it was not an allowable transfer the BK trustee/court may dismiss the quit claim and the property may be subject to BK action.
Can you quit claim deed a property from an irrevocable trust?
Yes, as long as the trust was properly drafted. Every trust is unique since the trust is created by the trust document. A properly drafted trust document has a provision whereby the trustee has the authority to transfer and convey property. The trustee's deed can be a quitclaim deed. You must review the trust document to determine how property can be sold by the trust.Yes, as long as the trust was properly drafted. Every trust is unique since the trust is created by the trust document. A properly drafted trust document has a provision whereby the trustee has the authority to transfer and convey property. The trustee's deed can be a quitclaim deed. You must review the trust document to determine how property can be sold by the trust.Yes, as long as the trust was properly drafted. Every trust is unique since the trust is created by the trust document. A properly drafted trust document has a provision whereby the trustee has the authority to transfer and convey property. The trustee's deed can be a quitclaim deed. You must review the trust document to determine how property can be sold by the trust.Yes, as long as the trust was properly drafted. Every trust is unique since the trust is created by the trust document. A properly drafted trust document has a provision whereby the trustee has the authority to transfer and convey property. The trustee's deed can be a quitclaim deed. You must review the trust document to determine how property can be sold by the trust.
How can I give property to a family member?
If it is personal property, such as jewelry or china, you just give it to them! It would be good to document the transfer in some manner, a simple letter or listing should suffice. If it is real property, (land) a quit claim deed is the simplest manner.
If you quit claim your house to your son and make the daughter the trustee who has the power?
You are mixed up. You have mentioned two different transactions. You would need to choose one. You could convey the property to your son by a quitclaim deed and he would be the new owner and have control over the property. OR, you could convey the property to your daughter as trustee for the benefit of your son and then she would have title to and control over the property as his trustee. He would have no power over the property in that case. Whether you choose to convey the property to your son or to your daughter as trustee FBO your son you should seek the advice of an attorney to discuss your options. You may be able to set forth the trust in the deed or you may need to have a trust drafted to meet your requirements. In any case the transfer needs to be done properly by a professional.
Can you claim your personal property that you lost in car accident?
yes, sure!
Can you claim personal property inside of car?
Depends on who's car it is
Can you quit claim property to a friend and does that property become theirs?
Yes. That is the purpose of a quitclaim deed, to transfer the ownership of real estate.
How long does an estranged spouse have to claim personal property?
Depending on the type of property, a person has a year and a day to get it in this area.
Does homeowners' insurance cover a personal injury claim from another property owned?
No. Your homeowners will only cover personal injury if it occurs on the property listed on the policy.
What is a written claim of property?
Real property is transferred to another owner by a deed. A deed is a written legal document that is used to transfer the title to real property.
On bankruptcy schedule d what does it mean when the value of the property is 5000 but the claim is 1000 what is the secured portion?
If the property is worth $5,000 and there is a claim on it for $1,000, there is equity of $4,000, which will have to be paid to the trustee or exempted (in a Chapter 7). The $1,000 claim will be the secured claim, assuming it is in fact secured by a mortgage, purchase-money loan agreement, judgment levy or other security.
