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Can real estate that is transferred to an Irrevocable trust securitize a mortgage loan that is executed by the general manager of the trust as an individual?
Wiki User
∙ 9y ago
No. The real estate in question is owned by the trust. The trustee cannot use it as security for his individual mortgage.
Wiki User
∙ 9y ago
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Is it possible to get a mortgage in the name of a irrevocable trust?
It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.
Do you own the property that your name is on the deed but not the loan?
If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.If your name was added by deed after the mortgage was executed then your interest in the property is subject to the mortgage. Also, changing the names on a deed for property that is subject to a mortgage may trigger the due on transfer clause. Most mortgages carry boilerplate language that provides if the property is transferred the lender can demand full payment of the mortgage.
Can there be a clouded title on a second mortgage in a bankruptcy?
Yes, if the mortgage was not properly executed by all the owners of the real estate.Yes, if the mortgage was not properly executed by all the owners of the real estate.Yes, if the mortgage was not properly executed by all the owners of the real estate.Yes, if the mortgage was not properly executed by all the owners of the real estate.
For a contract what goes in the blank executed in?
The location of the person signing, at the moment of signature. e.g. Executed in Los Angeles, California on February 24, 2010.
Can a promissory note be cancelled verbally?
No. Any change must be executed in writing. The debtor should always make payments so as to have proof of their payments such as cancelled checks.No. Any change must be executed in writing. The debtor should always make payments so as to have proof of their payments such as cancelled checks.No. Any change must be executed in writing. The debtor should always make payments so as to have proof of their payments such as cancelled checks.No. Any change must be executed in writing. The debtor should always make payments so as to have proof of their payments such as cancelled checks.
Can real estate that is deeded to an irrevocable trust be sold by the owner?
Absolutely not. The person who transferred the property to an irrevocable trust no longer owns the property. Their deed would be null and void. The trust can sell the property as long as that power was granted to the trustee in the Declaration of Trust. For an effective transfer of the property the deed of transfer must be executed by the trustee.
Can multiple catch blocks be executed?
No, Multiple catch blocks can't be executed. Once the proper catch code executed, the control is transferred to the finally block and then the code that follows the finally block gets executed.
What is an example of irrevocable?
Suppose Charles, a very successful entrepreneur, owns a substantial amount of real and personal property and wants to transfer the property from his individual ownership in order to protect it from any creditors and avoid the need for probate at the time of his death. He has no children but has numerous nieces and nephews.Charles decides to have an irrevocable trust drafted by an attorney who specializes in trust law. The provisions of the trust provide the following: his eldest nephew, Thomas, is the trustee and the nieces and nephews are to have the power to name one of their group as successor trustee should Thomas die or resign; during his life Charles is to have a generous monthly stipend and the right to the use and possession of his various homes; upon his death, the remaining property in the trust is to be liquidated and divided equally amongst his nieces and nephews. Charles will have no power or control over the trust property.Now suppose Charles executed deeds for all his real property transferring the title to the trustee of his trust. He also arranged for all his bank and investment accounts to be transferred to the trustee and they are all now in the name of the trustee of the irrevocable trust.Charles cannot undo those transfers once they have been made. Those transfers are irrevocable. Charles is no longer the owner of his property. He is the beneficiary of his irrevocable trust.
Does a farm lease terminate with the death of the life estate holder?
Yes, if the life tenant was the individual who executed the lease.
What were the contribution of Socrates?
Socrates founded the Socratic Method of questioning. He believed in improvement of the individual, and was executed by hemlock for corrupting the youth of Athens by teaching them to think for themselves.
Should you receive a copy of the new deed with the new owners name on the deed?
If you are the new owner, of course. Real property ownership is transferred by a deed. If the purchaser doesn't receive a properly executed deed that transfers the property to her then she is not the owner. The new deed must be recorded in the land records immediately.If you are the new owner, of course. Real property ownership is transferred by a deed. If the purchaser doesn't receive a properly executed deed that transfers the property to her then she is not the owner. The new deed must be recorded in the land records immediately.If you are the new owner, of course. Real property ownership is transferred by a deed. If the purchaser doesn't receive a properly executed deed that transfers the property to her then she is not the owner. The new deed must be recorded in the land records immediately.If you are the new owner, of course. Real property ownership is transferred by a deed. If the purchaser doesn't receive a properly executed deed that transfers the property to her then she is not the owner. The new deed must be recorded in the land records immediately.
When an estate case is closed by probate is the will still in effect?
An estate is closed after all the provisions in the Will have been executed. It remains a public document forever to show how the property was distributed and how title to property was transferred.An estate is closed after all the provisions in the Will have been executed. It remains a public document forever to show how the property was distributed and how title to property was transferred.An estate is closed after all the provisions in the Will have been executed. It remains a public document forever to show how the property was distributed and how title to property was transferred.An estate is closed after all the provisions in the Will have been executed. It remains a public document forever to show how the property was distributed and how title to property was transferred.
Does a husband have legal rights to his wife's inheritance in a divorce if she put his name on the deed under a stressful time for her in PA?
You have mentioned two different situations. Apparently the wife inherited property then she transferred it to her and her husband's joint ownership. The property now belongs to her and her husband. It was no longer legally classified as her inheritance once she executed a deed making it joint property.You have mentioned two different situations. Apparently the wife inherited property then she transferred it to her and her husband's joint ownership. The property now belongs to her and her husband. It was no longer legally classified as her inheritance once she executed a deed making it joint property.You have mentioned two different situations. Apparently the wife inherited property then she transferred it to her and her husband's joint ownership. The property now belongs to her and her husband. It was no longer legally classified as her inheritance once she executed a deed making it joint property.You have mentioned two different situations. Apparently the wife inherited property then she transferred it to her and her husband's joint ownership. The property now belongs to her and her husband. It was no longer legally classified as her inheritance once she executed a deed making it joint property.
Does a living trust supercede an executed will in California?
Yes. If the property was transferred to a trust during the life of the testator then it was not in her estate when she died. It cannot pass by will.Yes. If the property was transferred to a trust during the life of the testator then it was not in her estate when she died. It cannot pass by will.Yes. If the property was transferred to a trust during the life of the testator then it was not in her estate when she died. It cannot pass by will.Yes. If the property was transferred to a trust during the life of the testator then it was not in her estate when she died. It cannot pass by will.
How did Patrick Pearse die?
He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.He was executed by firing squad.
Who files for a quick claim in NH?
A quitclaim deed is the document by which ownership of real property is transferred. Once the owner has executed the deed and handed it over to the new owner, the new owner must record it in the land records immediately in order to document the transfer and notify the public of the change in ownership.A quitclaim deed is the document by which ownership of real property is transferred. Once the owner has executed the deed and handed it over to the new owner, the new owner must record it in the land records immediately in order to document the transfer and notify the public of the change in ownership.A quitclaim deed is the document by which ownership of real property is transferred. Once the owner has executed the deed and handed it over to the new owner, the new owner must record it in the land records immediately in order to document the transfer and notify the public of the change in ownership.A quitclaim deed is the document by which ownership of real property is transferred. Once the owner has executed the deed and handed it over to the new owner, the new owner must record it in the land records immediately in order to document the transfer and notify the public of the change in ownership.
Does Conniticut have capital punishment?
Connecticut has the death penalty (using lethal injection only) for serious murders. Only one person has been executed in Connecticut since 1976 - Michael B. Ross, a murderer, was executed in 2005.
