You should consult with an attorney in your area who can review the trust and the deeds for validity. The trust must be reviewed to make certain it is a valid trust in your state, that the property was properly transferred to the trust, that the trust provides the trustee with the power to convey real estate and that your sister is the trustee. The deed from your sister as trustee must be reviewed for validity.
If the property was "in trust" and your sister had the power as trustee to transfer the property to you both as individuals then it's no longer protected by the trust. It is your individual property and vulnerable to your creditors.
If your sister is the trustee of a valid trust and has power to transfer title to real estate owned by the trust then her deed as trustee transferred the property to you and her as individuals. The property is no longer owned (protected by) by the trust.
If the trust instrument was properly drafted then title to the property is in the trustee and should not be reachable by a creditor of one of the beneficiaries.
First, a trustee is the trustee of a TRUST. The house may be trust property. The powers of a trustee are set forth in the trust document. If the house is owned by the trust and the trustee has the power to sell real estate then yes, a trustee can convey the house.
The grantor in a living trust is the person who executes or creates the trust and then transfers their property to the trustee. After they transfer the property they no longer own it.
The grantor in a living trust is the person who executes or creates the trust and then transfers their property to the trustee. After they transfer the property they no longer own it.
Yes. The deed that transfers title to the trustee must be recorded.
Yes. If the trust was properly drafted property can be transferred in and out of the trust by the trustee.
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.
A trustee manages the property in the trust. An executor manages the property owned by a decedent at the time of their death. You need to review the trust document to determine what the trustee must do with the trust property now that the settlor has died.
No. The trust specifies what happens if the beneficiaries are no longer living. It could go to the beneficiaries' estates, or a remainder man, or to a charity. It is possible for the person who set up the trust to leave it to the trustee.
A trust doesn't have an executor. A trustee manages a trust according to the provisions set forth in the instrument that created the trust- the Declaration of Trust. You need to review that declaration to determine what the trustee can do and how.
A trust is an agreement. You cannot "modify" a trust by a deed. Trusts are modified by amendments to the trust. Property can be removed from a trust by a deed executed by the trustee if the trustee has been given the power to sell real estate.