LandInvestors.com Forums **Ask A Question** Property in Trust. Who needs to sign to transfer the ownership to us?

  • Creator
    Topic
  • #15296

    Patrycja & Tom
    Participant
    Post count: 57

    I need some advice on this deal. Please help.

    The property is in a trust ( I think). The trustee delivers the property as stated in the trust. The trustee passed away. There is a two successor trustees. Also, the Trust says: If something happens to first trustee or she steps down as trustee – then the second successor trustee shall step in automatically.

    I conducted some additional research into the property and discovered that a Grant Deed was allegedly executed/notarized by the Power of Attorney on January 30, 2016 but was NEVER recorded until February 22, 2017. However, Trustee passed away on February 25, 2016. Therefore it is my personal opinion that since the property was NOT formally transferred into the trust (recorded) then it is NOT part of the trust. The research that I conducted substantiates my findings.
    In any event, it appears that the daughter of the Trustee is in fact the sole heir and would inherit the property (whether it be via the trust, or through probate).

    My question is: who should sign a deed to transfer the ownership to us?
    In my opinion, that should be the first trustee, or just in case, maybe both. They are both willing to sign.
    But the person who we hire to help us with some legal staff in California, he said that “he thinks if should be a daughter of the Trustee. And he thinks that the property is not in a Trust.
    For me it just doesn’t make ant sense…..

    I called the county and looks like the parcel is owned by the Trust. In that case, do I need to record an affidavit of death of trustee and consent to act as successor trustee prepared, signed and recorded. Then the transfer deed?

    Any thoughts?

    Thank you in advance :_)

    Patrycja

Viewing 4 replies - 1 through 4 (of 4 total)
  • Author
    Replies
  • Rod Hall
    Participant
    Post count: 273
    Pro

    Follow the trail to the assessor to see if owner is the trust. What you wrote in the last paragraph is what I did in AZ. Successor Trustee signs. But I would just send the affidavit with the deed. – best

    Michael Aillon
    Participant
    Post count: 275
    Pro

    Is this property worth something substantial? Any reason, why you couldn’t simply use a title company and let them handle the work? Make sure you work “on” your business and not “in” your business. When it’s a simple deed and the price point is low, do it yourself. Otherwise, just let title mind or title company handle it.

    Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    Good points, I’d still get the trust which sounds like you did. Then get the signatures of the successors in the trust. Read the trust and make sure they can sell real estate in the powers of the trust. Get the death of trustee affidavit and the death cert recorded.

    The part about the Power of Attorney is the scary part. Get a cop of the POA is it like notarized and official looking?

    The county should have that recorded with that old deed.

    If its not real then someone back there is breaking the law but its going to the same people not like the crazy caretaker stealing it form the family.

    Depending on the $ of the deal I would go for it on that or title it up if there is room in there.

    Patrycja & Tom
    Participant
    Post count: 57
    ProAdvanced

    thank you #lukesmith, #michaelaillon, #rodhall and have a wonderful weekend guys :_)

    Patrycja

Viewing 4 replies - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.