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Do beneficiary names need to be on a deed that is in the name of the trust?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 13y ago
Wiki User
∙ 11y agoIf there is a will beneficiaries have to be named or described (e.g., all my children). If there is no will most (maybe all) states define how an estate is to be divided and obviously not by name.
Wiki User
∙ 11y agoYes, otherwise they are not beneficiaries. However, they can be 'named' through a class, such as 'all children' or 'any descendent.'
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How do you change names on a deed in Virginia?
How do I add my daughter's name to my deed
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.
Can a trust property be refinanced by a sibling to pay off another in California?
Upon contract a beneficiary and secondary beneficiary are chosen. A sibling can refinance only if their name is initially included on the trust property's contract. If they are not secondary beneficiary, it is very difficult but not impossible if primary beneficiary can not comply.
Does it require an atty or can you change the name on your deed to a family trust?
You need to hire an attorney to change the name on your deed. The deed needs to be filed properly with a court of law and recorded.
Who is the trustee in a Deed of Trust?
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 to be appointed. Suppose the named trustee is Judith.William must transfer his land to the trust by executing a 'deed of trust' that names as the grantee Judith, as the trustee of the William's Family Trust. The grantee in a 'deed of trust' must be the trustee named in the trust document.A trustee's deed is a deed that transfers land from a trust. It must be executed by the trustee in office at the time of the transfer. Therefore, if the William's Family Trust decides to sell that property to Harry, the trustee's deed would recite Judith, as trustee of the William's Family Trust as the grantor, and Harry as the grantee.
Can you hold ownership of real estate through a secondary contract without being on the deed?
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.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.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.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.
How can you sell a paid off home inherited by you through a revocable trust?
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 . . . ."
Is falsifying signatures on a deed of trust a felony?
Falsifying a deed to a home where two people are listed one is deceased and his wife is trying to change it to her name
You are filing bk chapter 7 but spouse is not your house is just in your name you also have land that has a mortgage in just your husbands name but both names are on deed will the land get taken from?
Ownership of real property is determined by the names on the deed.
How should the owner's name appear on a deed when the property is to be placed into a living trust?
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".
If a deed is in three names and two of the names belong to a married couple how can they take their names off the deed and put the deed in the third person's name only?
The two people can sign a quit claim deed and record it, effectively putting the deed in the third person's name only. HOWEVER, if there is still a mortgage on the property then the lender has to agree to this. If the couple co-signed for the home, this may not work until the third person can afford to refinance alone.
You buy a house using a trust deed am named the trustor trustee beneficiary while you are alive with the largest of interest in AZI did not name your wifeWhy did you do this and is your wife an owner?
In many states a trust that names the trustor, trustee and beneficiary as the same person would fail as a trust. The trust would fail under federal tax laws. The property that was transferred to the trust actually remains the property of the trustee as an individual and is exposed to creditors and the laws of intestacy if the owner dies. In the scenerio set forth above the wife is not an owner but she would inherit an interest in the property if the owner died. For example. If Jack has land conveyed to himself as a trustee of a trust of which he is the trustor and the beneficiary there has been no trust created and Jack owns the property in his own name as an individual. If he died the property would pass to his heirs at law according to the state laws of intestacy. Trust law is extremely complicated and largely due to "free" information available on the internet there has been an abundance of flawed trusts used to hold title to real estate. Those mistakes can be very costly to correct. You need to have this situation reviewed by an attorney who specializes in trusts ASAP.
