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A trustee is an officer of the court. And is bound by state laws and court procedures. If the estate/trust is being held, it is due to the action of the court of jurisdiction, not the trustee. An heir can petition the court for a change in executor. They can also ask for a full accounting of the estate. If it is clear that they are dragging things out, perhaps to pad their bill, the court can replace them.
What else can I help you with?
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.
How can a home in a trust be removed by a trustor and put in the Trustor and Trustee name?
You need to review the terms of the particular trust. Each trust is unique and contains all the provisions of the trust and all the powers of the trustee. You need to check to see if the trustee has the power to execute a deed to transfer the real estate.You need to review the terms of the particular trust. Each trust is unique and contains all the provisions of the trust and all the powers of the trustee. You need to check to see if the trustee has the power to execute a deed to transfer the real estate.You need to review the terms of the particular trust. Each trust is unique and contains all the provisions of the trust and all the powers of the trustee. You need to check to see if the trustee has the power to execute a deed to transfer the real estate.You need to review the terms of the particular trust. Each trust is unique and contains all the provisions of the trust and all the powers of the trustee. You need to check to see if the trustee has the power to execute a deed to transfer the real estate.
Will the title be on your name using a deed of trust?
When land is transferred to a trust the grantee is the trustee of the trust. For example, suppose the Murphys decided to execute a trust naming their daughter Elizabeth as the trustee. If they wish to transfer their home to the trust they would need to convey it to Elizabeth Murphy as Trustee of the Murphy Family Trust.
How can you sell a paid off home inherited by you through a revocable trust?
If the property is owned by the trust, the trustee must execute a deed from the trust to you. In order to execute a validdeed the trustee must be given the power to sell real estate in the document that created the trust. Once the deed to you has been executed and recorded in the land records you will be the record owner and you can sell the property by executing a deed in favor of the purchaser.A deed from a trust should be executed in the trustee's name as the trustee of the trust. The grantor on the deed should be recited as, "Buddy Guy, as the Trustee of the Best Blues Trust" grants to BB King . . . ."
Can a current trustee bind a successor trustee?
It would be possible depending on the details. For example, the current trustee could execute a valid lease on behalf of the trust. If a successor trustee was appointed, the trust would still be subject to the terms of that lease so the successor trustee would be obliged to honor it.
Does a settlor have to execute a deed to add property to an existing trust?
Yes. The property must be transferred by the owner to the trustee of the trust.Yes. The property must be transferred by the owner to the trustee of the trust.Yes. The property must be transferred by the owner to the trustee of the trust.Yes. The property must be transferred by the owner to the trustee of the trust.
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.
Can a trust exist where there is no trust deed?
A court can impose a trust on equitable grounds against someone who obtained property through wrongdoing. The wrongdoer is reduced to a trustee and the title is restored in the rightful owner. This is called a constructive trust. Generally, a trust exists by virtue of a document that sets forth the provisions of the trust, names the trustee(s) and adheres to the state requirements for a valid trust. That document is commonly called a Declaration of Trust. A trust exists independently whether it owns property or not. Any property that is to be held in trust by the trustee must be transferred to the trust. If that property is real estate, the owner must execute a deed that transfers title to the trustee of the trust. By doing so the owner is giving up ownership. If there is no deed to the trustee then the real estate is not part of the trust property. The deed to the trustee is referred to as a trust deed or deed of trust. When the property is transferred out of the trust by the trustee that deed is called a trustee's deed. In some jurisdictions a trust deed or deed of trust is the term used to describe a mortgage.
If a house was transferred to a living trust can it be sold?
You need to check the document that created the trust to find your answer. All the provisions of a trust and the powers of the trustee are set forth in that trust document. It creates a self governing entity. The trustee can only perform the functions set forth in the declaration. If the trustee has the power to sell real estate the trustee can execute a deed that conveys the property to a new owner. If there is no power in the trustee to transfer real estate explicitly recited in the trust document, then you will need to petition a court to issue a license to sell the real estate or reform the trust to include a power of sale.
Is it possible to get a mortgage in the name of a irrevocable trust?
It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.It depends on the lender. Generally, as long as the trust is valid and the borrower provides a copy of the trust, and an affidavit by the trustee that the trust is in effect and they are the current trustee, the mortgage can be executed. A properly drafted mortgage from a trust would be executed in the name of the trustee as trustee of the trust.
Can a co trustee buy quit claim property from trust and transfer into own personal trust?
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.
Can there be a trustee and beneficiary to an irrevocable trust?
A trustee and a beneficiary are essential to a trust. Without a trustee and a beneficiary there is no valid trust. They should not be the same person.
