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What can you do if an irrevocable trust was left to 5 beneficiaries and one tries to sale the property without the knowledge of others?
Wiki User
∙ 15y ago
The title to property in a trust is in the name of the trustee. Only the trustee has the authority to sell the trust property. A sale by one of the beneficiaries would be void since the beneficiaries do not have title to the property. If the property is real estate, a deed from one of the beneficiaries would not convey the property and would not be acceptable to the buyer. The deed must be executed by the trustee as set forth in the trust instrument.
Wiki User
∙ 15y ago
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The exector's responsibility to the estate, not the beneficiaries. They are accountable to the court for executing the will and the laws.
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The beneficiaries don't get to make the determination. As long as the court is satisfied, the executor can do so.
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It is possible to settle an estate without selling property. As long as the distribution is approved by the court, the property can be transferred to the beneficiaries.
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Can the executor sell property in Massachusetts without all beneficiaries approval?
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The beneficiaries do not have the ability to transfer property. The executor can deed the property to whomever it is being sold or distributed to. The executor can also transfer the deed to the estate while determining disposition.
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The spouse of a beneficiary has no rights to the estate. Removal of property without the executor's authorization could be prosecuted as theft.
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