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If there is a trust and you are one third owner of the home in the trust can the house be sold without you signing for it?
As a co-owner on the deed, your signature is required along with the other two parties. This sale would not even get through the first phase of a title search without the signatures of all the owners.
You were the grantee in a deed of trust. The original owner has died. Are you now the owner of property?
You need to review the terms of the trust. If your name is on a deed of trust then you must be the trustee. You need to review the terms of the trust to determine the status of the property now that the trustor has died. You should consult with an attorney who can review the land records to determine the status of the title. If the title is not clear you cannot sell or mortgage the property.
How do you remove a trust from a deed?
The trust document should have a provision by which the trustee can transfer the property. You must follow the provisions in the trust for transfer by the trustee. Generally, in order to remove real property from a trust the trustee must execute a deed that conveys the property to a new owner.
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.
Is Michigan a non title holding state and who keeps the title the owner or the lien holder?
Michigan is a title theory state where the property title remains in trust until payment in full occurs for the underlying loan.Michigan is a title theory state where the property title remains in trust until payment in full occurs for the underlying loan.Michigan is a title theory state where the property title remains in trust until payment in full occurs for the underlying loan.Michigan is a title theory state where the property title remains in trust until payment in full occurs for the underlying loan.
What is the difference between a Deed and a Deed Of Trust?
A deed is the instrument used to transfer title to real estate. A deed of trust transfers property to someone to be held in trust for another. A deed of trust can have different meanings in different jurisdictions. In some states a deed of trust has the effect of a mortgage. A trustee holds the property until the debt has been paid. In other jurisdictions a deed of trust is a deed that transfers real property to a trustee who will hold title to the property indefinitely according to the terms of the trust. The trust may be one that was created in a separate instrument that is referenced in the deed or the trust may be set forth in the deed itself.
What does a surviving spouse have to do to remove the other spouse from a trust?
You cannot be the surviving spouse of a trust. A trust is a legal arrangement set up to hold title to property. Any trust is managed by the provisions set forth in the document that created the trust. You need to review that document. If no one has a copy then you may need to get a court order to make changes.
What is constructive trust?
A constructive trust is not one that is created by an individual. It is not a trust (express trust) in the true meaning of the term. It is a trust created by a court as a remedy when it decides that an individual is holding title to property unfairly. It treats the defendant as though it had been the trustee of an express trust. The court then compels the defendant to convey title to the property to the rightful owner. You can read more about constructive trusts at the link below.
What is the difference between legal and beneficial ownership?
Legal ownership refers to the individual or entity whose name is officially registered on legal documents as the owner of an asset. Beneficial ownership, on the other hand, refers to the individual or entity that enjoys the benefits of owning an asset, even if the legal ownership is held by another party. For example, in a trust, the legal owner is the trustee, while the beneficiary holds the beneficial ownership rights.
How can real estate be removed from a trust?
You need to review the provisions in the document that created the trust to determine if the trustee has the authority to sell or transfer real estate. The trustee holds title to the trust property. If the power to sell is recited in the trust the trustee can execute a deed to transfer the property to a new owner. If the power to sell is not recited in the trust then you will need a court order to transfer title.
How do you determine the owner in a deed of trust?
United StatesTransactions affecting the title to land must be recorded in the land records. The status of a property can be determined by searching through those records by the owner's name or the address.In some jurisdictions a deed of trust is the term used for a mortgage. The grantor in a deed of trust mortgage would be the owner of the property as long as the provisions and obligations under the mortgage are fulfilled. The grantee in the deed of trust holds title on behalf of the lender until the note is paid. Once the note is paid they must transfer title back to the owner. In the case of a default, no court process is required to foreclose and take possession of the property.There is another category of trust deeds. Generally, a trust deed (sometimes referred to as a deed of trust) refers to a deed by which real property is conveyed to the trustee of a trust. A trustee holds legal title to trust property on behalf of a trust. You may need to do further research regarding the trust. However, trust documents are not always available for public review so it is not always possible to determine who benefits from the trust.In some jurisdictions the trust document is recorded in the land records. That document may reveal the beneficiaries of the trust. If state laws do not require that the trust document be recorded in the land records then the details of the trust will remain private.
What is acceptable evidence of a marketable title in real estate?
A title examination that shows no title defects or other encumbrances, and, title to be in the seller is acceptable evidence of marketable title.
