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How is a land held on trust for someone who has equitable interest?
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Who has the legal title of the property in a trust?
Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.
Who is responsible for the upkeep of a house left in trust to children whilst stepmother lives on it it until her death?
The trustee named in the trust document is responsible for the upkeep of the house, including any maintenance, repairs, and upkeep costs, while the stepmother lives in it. The trustee must ensure that the property is maintained in good condition for the children's benefit when they eventually inherit it. It is important to review the trust document for specific instructions regarding the responsibilities of the trustee in this situation.
What is the other meaning of trust?
The word trust has several meanings:verb: to believe in and rely on someone or somethingnoun: belief in and reliance on someone or somethingnoun: a legal and financial arrangement in which property is held for the benefit of someone else
To deduct mortgage interest do you need to be on the loan or the title?
Certainly on the loan, for property you occupy. An interest deduction is generally not allowed if the taxpayer's liability is not primary and direct.. There is an exception to this general rule that allows a taxpayer to deduct interest he pays on a mortgage if he is the legal or equitable owner of the property, even though he is not directly or personally liable on the bond or note secured by the mortgage. The effect of this exception is to permit the deduction of interest in situations when the taxpayer-borrower is not personally liable on a mortgage of property that is used as security for a loan made to the taxpayer. The Tenth Circuit has stated that the concept of equitable title to realty for this purpose is generally limited to two situations: when legal title to property is held by a trustee, in which case equitable title is said to be in the beneficiary; and when real estate has been sold under a contract for deed with legal title retained by the seller until the purchase price is totally paid, in which case its purchaser is said to be the equitable owner during the payoff period.
What is the beneficiary in a trust?
the beneficiary in a trust is the person whom benefits from that which is held in trust.
How are time share undivided interest held?
They are held as a full interest for a specified period of time. For the times you use it, the interest is undivided.
What happen when someone is on Section 8 and recieves an inheritience ?
All outside income is held in a trust until the Section 8 is complete.
Can a trust exist where there is no trust deed?
A court can impose a trust on equitable grounds against someone who obtained property through wrongdoing. The wrongdoer is reduced to a trustee and the title is restored in the rightful owner. This is called a constructive trust. Generally, a trust exists by virtue of a document that sets forth the provisions of the trust, names the trustee(s) and adheres to the state requirements for a valid trust. That document is commonly called a Declaration of Trust. A trust exists independently whether it owns property or not. Any property that is to be held in trust by the trustee must be transferred to the trust. If that property is real estate, the owner must execute a deed that transfers title to the trustee of the trust. By doing so the owner is giving up ownership. If there is no deed to the trustee then the real estate is not part of the trust property. The deed to the trustee is referred to as a trust deed or deed of trust. When the property is transferred out of the trust by the trustee that deed is called a trustee's deed. In some jurisdictions a trust deed or deed of trust is the term used to describe a mortgage.
Can beneficial interest in family home be willed to children?
That is possible depending on how the property is held. If it is held by two people by survivorship one owner cannot leave their interest by will. When one dies their interest passes automatically to the survivor.That is possible depending on how the property is held. If it is held by two people by survivorship one owner cannot leave their interest by will. When one dies their interest passes automatically to the survivor.That is possible depending on how the property is held. If it is held by two people by survivorship one owner cannot leave their interest by will. When one dies their interest passes automatically to the survivor.That is possible depending on how the property is held. If it is held by two people by survivorship one owner cannot leave their interest by will. When one dies their interest passes automatically to the survivor.
What actors and actresses appeared in Held in Trust - 1986?
The cast of Held in Trust - 1986 includes: Diana Rigg as Herself - Presenter
Can property held in a trust be seized by a court order?
Yes. There are circumstances whereby a court can order the transfer of property held in a trust.
Can a name be added to living trust property?
No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.
