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Can you sell land out of a revocable trust?
Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.Yes, as long as the trust was properly drafted the trust property can be sold by the trustee of the trust.
Ga trustee discharged everything but the house how long does he have to pursue?
In Georgia, if a trustee has been discharged from a bankruptcy case but the discharge does not include the house, the trustee may still have the ability to pursue the property. Generally, the time frame for pursuing any claims related to the property depends on the specific circumstances and the nature of the claims. If it's a foreclosure or related issue, the timeframe may be subject to state laws regarding foreclosure timelines. It's advisable to consult with a bankruptcy attorney for precise guidance based on the situation.
Can real estate that is deeded to an irrevocable trust be sold by the owner?
Absolutely not. The person who transferred the property to an irrevocable trust no longer owns the property. Their deed would be null and void. The trust can sell the property as long as that power was granted to the trustee in the Declaration of Trust. For an effective transfer of the property the deed of transfer must be executed by the trustee.
What happens to trust property on death of the trustee?
The self appointed trustee purchased a property as investment for his young son as beneficiary with the intention to manage it as long as necessary or until his death be passed on to his son without further ado. Is this position legally practicable in law?
Can you quit claim deed a property from an irrevocable trust?
Yes, as long as the trust was properly drafted. Every trust is unique since the trust is created by the trust document. A properly drafted trust document has a provision whereby the trustee has the authority to transfer and convey property. The trustee's deed can be a quitclaim deed. You must review the trust document to determine how property can be sold by the trust.Yes, as long as the trust was properly drafted. Every trust is unique since the trust is created by the trust document. A properly drafted trust document has a provision whereby the trustee has the authority to transfer and convey property. The trustee's deed can be a quitclaim deed. You must review the trust document to determine how property can be sold by the trust.Yes, as long as the trust was properly drafted. Every trust is unique since the trust is created by the trust document. A properly drafted trust document has a provision whereby the trustee has the authority to transfer and convey property. The trustee's deed can be a quitclaim deed. You must review the trust document to determine how property can be sold by the trust.Yes, as long as the trust was properly drafted. Every trust is unique since the trust is created by the trust document. A properly drafted trust document has a provision whereby the trustee has the authority to transfer and convey property. The trustee's deed can be a quitclaim deed. You must review the trust document to determine how property can be sold by the trust.
Can a trustee and beneficiary of a will buy a house from the estate?
Yes. As long as it is valued correctly and bought at the correct purchase price.
How long does it take for the trustee to tell you what is going to happen to a piece of property that he could auction or let you buy back or abandon?
there is no set time for such a decision. Although it is everyone's best interest to get all the issues resolved as quickly as possible. The trustee's decision will be made on how encumbered the property is, appraised value, etc.
Can a trustee delegate and to whom?
A trustee can delegate certain responsibilities to others, such as investment advisors or property managers, as long as such delegation is permitted by the trust document and applicable laws. However, the trustee retains the duty to oversee and monitor the actions of those to whom they delegate responsibilities. Generally, the trustee cannot delegate their fiduciary duties or decision-making authority. It's essential for the trustee to act prudently and ensure that the delegate is qualified and trustworthy.
How long after you file a chapter 7 are you supposed to turn over property or do you wait for the meeting of the creditors so the court can tell you?
In the case of a home, it will be sold at Sheriff sale on its own. (or the Trustee may sell it) In the case of any other property, the Trustee must abandon the property, then the Creditor will contact you (or your attorney if you have one) to arrange to get the item. If its a car, or some other type of personal property, you can sometimes accellerate the process by calling the creditor's attorney. (Or the creditor if they don't have one) Ask the Trustee at your 341 hearing (meeting of the creditors) what he/she thinks. They may abandon it right there.
How long can you leave a house in a deceased person's name if there is no mortgage Who is responsible for the property taxes?
how long can you leave house in deceased name
How do you go to probate on a trustee when parents died 14 months ago and there was a will and a trust and bank accounts and she will not talk to us?
You should not have allowed the situation to go on for so long. The trustee is acting secretively and she should not have control over the trust property. You need to consult with a probate attorney in your area ASAP. The attorney should contact the 'trustee' by registered mail and insist that the will and trust be produced immediately. If the 'trustee' doesn't respond the attorney can petition the court to have an administer appointed for the estate. The administrator will have the authority to take control of the estate. If the 'trustee' has converted the trust or estate property to her own use then she should be sued and reported to the district attorney for prosecution.
How long do you have to move out of your house after a trustee sale in Arizona?
you have 3 days unless you negotiate with the new owners. Also, moving after the trustee sale is tricky because essentially everything in the home now belongs to them. It's smarter to move out before the sale.
