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Is it legal for the trustee of a never probated trust to change the title on a property from The Jane Doe Trust to the trustees name as his sole and separate property and then get a loan?
Wiki User
∙ 14y ago
Your question still lacks detail. Trusts are not probated. if a trust is set up in a will and the testator has died the trustee has no power at all until the will has been probated. Banks have the title checked to make sure the person applying for the mortgage has legal title to the real property. The situation you describe just doesn't make sense.
You can go to the land records office and review a copy of the mortgage. Check to see what the mortgagor cited as his/her source of title.
Wiki User
∙ 14y ago
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Can a will or trust be probated before trustees decease?
You are mixing your terms. A will provides instructions regarding the distribution of a person's estate after they have died. A will must be probated after the death of the testator.A trust is not probated. It is created to hold title to property so the property is not included in a person's estate. It is created by a living person who then transfers their property to the trustee of the trust. A trust is then managed by trustee according to the provisions in the trust document.A trust and a will are not the same. See related question link provided below.
Can a trust's property be taken if one of the trustees has a judgment against him?
A judgment against the trustee in his individual capacity will not affect the trust property. A judgment against the trustee as the trustee will become a lien on the trust property.
Can one trustee sell property in trust without second trustee's signature?
That depends on the provisions set forth in the trust. You need to review the trust. The trust document may provide that any one trustee can act or it may require that both trustees join in any action taken by the trustees.
Is a group of trustees singular or plural?
Trustees is the plural of trustee. "The trustees had no idea where the money went"
Can you add a new name to be a trustee of a property that has been entrusted to some persons?
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.
Does executor of a trust have to let the beneficiaries of the trust monitor their activities?
Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.
How would one define the meaning of the word trustee?
A trustee is one who manages a property or other assets for the benefit of another. Some trustees are paid, others are voluntary. Many charities are managed by boards of trustees who make decisions and to whom the charities' employees are accountable.
Can a trustee cash an insurance check that is made out to the trustee or trust?
Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.You need to review the document that created the trust to determine the extent of the trustees powers.Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.You need to review the document that created the trust to determine the extent of the trustees powers.Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.You need to review the document that created the trust to determine the extent of the trustees powers.Yes. That is the purpose of having a trust. The trustee has the authority to manage the trust property. That includes cashing a check that has the trust as the payee. If the trustee could not cash that check then it could not be cashed at all.You need to review the document that created the trust to determine the extent of the trustees powers.
Where can one find more information on trustees?
The are websites to find more information about trustees. CTN The Trustee Network has a range of resources available, including a 'trustee finder' search facility.
Can trustees not follow a trust's terms?
A trustee MUST follow the terms set forth in the trust. The trustee has no other authority to deal with the trust property except as directed in the trust document. If you think the trustee is violating the trust you can bring an action in your appropriate court to have the trustee removed and a new one appointed. There may be provisions in the trust for removal of the trustee.
How many trustees lead Georgia during trustee period?
21 :)
Do you include the Trustees name on the Grantee secton of a Quitclaim Deed transferring mineral interest to a Trust?
Yes. The trustee holds the legal interest to property for the trust. The grantee should be recited as "John Deere, as Trustee of the Deerfield Realty Trust".
