Asked in EstatesProperty LawDeeds and Ownership
Deeds and Ownership
How does a will control tangible property if said property is in a trust?
Asked in Homeowner's Insurance
Who is responsible for homeowners insurance of trust?
Can a home be sold if the decrease trust is not over with in probate court?
It all depends on what the documents state. I notice you said a Trust. Was this a grantor trust? was it completely funded with the grantor's (the deceased) assets? Is the home in the name of the trust. There may be a provision in the Trust, if the trust was the owner of the property, that allows the sale of the property with proceeds added to the residue of the trust. However, if the trust was not properly executed and funded and the property was still in the name of the decedent then you may have to wait until the probate process is over or meet with all heirs and your probate attorney as they can guide you through that process. Usually with a completely funded grantor trust the estate avoids the probate process and goes by the guidelines set forth by the trust, however it sounds as if this trust was not properly funded and the property was not placed in the trust.
Asked in Law & Legal Issues, Real Estate
Is it legal to transfer property to a land trust if there has been a lis pendens filed against said property?
Sure. But read on. The purpose of a lis pendens is to notify anyone whom it may concern that an action is pending which will affect title to a certain property, and anyone with any interest in that property will take subject to the rights of the plaintiff in that action. While you can transfer title to your property to a trust, the trust will take subject to the rights of the plaintiff in the lawsuit which the lis pendens is filed for, just as if the trust was a named party to the lawsuit. For example, if the lis pendens warns of a lawsuit for foreclosure, and the plaintiff wins the lawsuit, the trust, as new owner of the property, must pay the foreclosure judgment or lose the property. Also, the lis pendens will show up as an exception on any title policy issued for the subject property. Upon dismissal of the lawsuit in question, the lis pendens is automatically moot. Note: If your property is faced with a lis pendens, I would strongly recommend consulting with a real estate attorney immediately. Luckily, some attorneys give "free consultations"--see the phonebook.
Asked in Intellectual Property, Property Law
If your tree is hanging over onto a neighbors roof who is responsible for cutting the tree back?
Who said trust in god but tie up your horse?
Such an expression is said to be proverbial. That is to say that many have said something like it, so that no one can be given definite credit for the precise wording. Variations include: "Trust Allah but tie up your camel"; "Trust everybody, but cut the cards"; "Trust in God but look both ways before crossing the street" and "Trust but verify."
Asked in Contract Law
Are verbal contracts for vehicle purchases in Illinois binding?
Verbal contracts are not binding on any tangible asset or real property. If this were the case, car salesmen would sue everyone who walked out the door and said they would be back tomorrow to buy. Vehicles are tangible assets. Thus verbal agreements in this matter are not binding. In the sale of a vehicle, there is an exchange of money for the vehicle and title. That's it. The purchase is straight forward.
Asked in Estates, Identity Theft Issues
What is the procedure for revoking a trust?
A properly drafted trust must contain a provision whereby the trustor reserves the right to revoke the trust. You should review the trust for the provisions that govern the revocation of the trust. The provisions must be followed. If there are no such provisions in the trust then you need to consult an attorney. The trust may need to be modified by a judge. If the right to revoke the trust was reserved then the trust may be revoked according to the provisions set forth in the trust which generally provide the trust be revoked in writing with a copy sent to the trustee and an original recorded in the land records if the original trust was recorded. If the trust owns real property the trustee may need to convey it back to the trustor by deed to clear the title. Examples: I reserve the absolute right, during my life, by an instrument in writing signed by me, to revoke, annul and cancel this agreement and the trust created hereby; and to alter, modifyor amend this trust in any and all aspects . . . This Revocation of Trust is made this _(1)_ day of ________(2)________, 19_(3)_. WHEREAS, on the _(4)_ day of ________(2)________, 19_(3)_, I created by written declaration of a revocable trust a copy of which is attached hereto, and having reserved the right to revoke, annual and cancel said trust and the declaration creating it, I do now hereby revoke said trust, with all of the principal thereof reverting absolutely to me, with all right and title thereto. I further declare the Trustee of said trust free and discharged from all further responsibility for the administration and management of said trust and the principal thereof.
What is a quick deed?
Asked in Friendship
Should you trust a friend if she said she would get you something expensive?
Asked in Anthropology, Human Origins, Propaganda
What was the first sign of propaganda?
When people first said there must be superhumans that control human destiny. When people first said there must be superhumans that control human destiny. When people first said there must be superhumans that control human destiny. When people first said there must be superhumans that control human destiny.
Asked in Relationships, Dating, Romance Novels
Your Boyfriend asked you a jealous comment but he later said he didnt mean what he said?
Asked in Statutes of Limitations
What is the statute of limitations for eviction in California?
Asked in Health
What court case said that slaves were property not people?
Asked in Science, Cars & Vehicles, Stress
If a material can be permanently deformed without breaking it is said to be?
Asked in Relationships
A guy breaks promises in the relationship so everything he said from before was all lies?