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How should the owner's name appear on a deed when the property is to be placed into a living trust?
Wiki User
∙ 14y ago
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".
Wiki User
∙ 14y ago
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Can a lien be placed on a property jointly owned by 2 people primary house or rental property if one of the owners has a judgment against them by a creditor?
can a property or business be liened if one of the owners, owe debts
Can a lien be placed on a property for the debt of only one of the owners?
Yes, any person listed on the deed as an owner can have a lien filed against that property in their name, even if there are other owners listed. However, a creditor cannot force the sale of property held as tenants by the entirety for the debt of only one of the parties.
How do you Force sale of home when estate is closed?
If the other part owners do not want to sell the property one of the tenants in common can petition the probate court to Partition the property. In that case, it will be placed under the authority of the court, a commissioner will be appointed and the property will be sold with the net proceeds divided amongst the heirs or beneficiaries. It is a costly procedure. If the other owners want to keep the property it may be better to offer to purchase the interest of the one who wants to sell.
When can a sold sign be placed on a property?
when the property is sold of course.
What happens upon death of owner of mortgaged property placed in living trust?
I think the key word here is "LIVING" trust. Once a person passes away so does the trust...the Will should determine what is to be done with the property. If no Will is in place..his or her heirs will have to battle it out. Seek advice from an attorney.
How long does a sibling have to step up and claim their part of the property when there mother dies?
If the property is real property the estate must be probated and any surviving children will become the new owners. You will own your portion until you sell or convey it to someone else by a deed. However, if the other owners want to sell the property and you cannot be found then they could seek a court order to sell your portion of the property and the proceeds would be placed on deposit in your name. Costs and fees thereafter could cause your portion to decrease. Personal property should be claimed within a reasonable period.
How do you fight homeowners association that placed a lien on your property?
Best practices dictate that you hire a local, common interest community-savvy attorney who works with owners who can help you defend this lien, or help you settle it.
I bought a house with land but didn't record the deed right away a year later the IRS placed a lien on the property in the previous owners name can they legally do that?
You need to speak to a lawyer (attorney) about this, the lien needs to be removed or you will have trouble selling the property in future. You will need to prove when you purchased the property and that you payed for it in full (or with a mortgage).
Why are premiums placed on new build property?
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Can a property owners association affect credit score?
Yes. If, for example, you do not pay your assessments, and a lien is placed on your title, the filing is reported to the credit bureaus, and will show up on your credit report. Your score could suffer.
Mechanics lien can be placed on any of the owners property or only be placed on the property where the work was done or is a general lien and can be placed an any real or personal property?
A mechanic's affects the property where labor or materials were supplied for the improvement of that property. They are governed by state law and if the lien is not paid off with a certain short time period the lien must be 'perfected' by some court action to foreclose on the lien.In some states the lien can be perfected in court and a judgment lien will be issued that once recorded in the land records can affect other property owned by the debtor. However, prompt follow up of the original mechanic's lien according to state requirements is required for the creditor to maintain their right to relief.
What does auc means in real estate?
It would appear the auc would indicate that a property would be sold at an auction. If there is a telephone number associated with the ad or listing you might call the agency that placed the ad.
