Under The Trust Agreement
If property is owned in the name of a trustee of a trust, then the trust agreement controls. The person who established the trust should have created a trust agreement, and in that trust agreement it will state whom the initial trustee is and how successor trustees are named. So, check the trust agreement.
You can break an irrevocable trust only if there was some legal error involved in the establishment of that trust. If there was an error, you can then go to court and ask to have the trust invalidated on the grounds of that error. If there was no error, then no, you cannot break it.
That means the provisions of the trust agreement cannot be changed.
The trustees must follow the provisions of the trust. If the trust doesn't provide that option or an option for the trustees to act at their discretion then the trustees must petition the court to modify the trust. They should be prepared to explain to the court why the trust should be modified. The judge will review the matter and issue a decision.
TRust him Answer Tell him and then you will have to show him that he can trust you. You CANNOT break his trust or it will be gone forever.
T U/A means trust under agreement.
because of trust...
Hi
You need to review the provisions of the trust to determine if the trust allows a "beneficiary buy-out".
You should ask the trustee if there have been any amendments or changes in trustees.
You can create a home trust by hiring a lawyer to create the trust agreement. Then you can transfer the mortgage over to the name on the trust while keeping the original document.