Posted on: 21st Feb, 2006 01:22 pm
My father deeded his house to me and now my siblings convinced him to get it back. My siblings found out that my dad has a trust which may possibly say they get a percentage after he dies. What is the best way to handle this situation? I don't want to return it.
Hi RJ,
This situation is a critical one as family members are involved. If you don't want to return it then you can talk to your father and your children and convince them the reason.
In any case none can force you out of the title with your name on the deed.
Regarding the Trust what you mentioned, they may be talking about the estate living trust where a trust is formed to hold ownership to a person's assets during the lifetime of the person and is distributed to heirs after the grantor's death.
Here the grantor may also serve as a trustee and control the assets although the assets belong to the trust. Although I'm not too sure what form of Trust you are talking about.
The decision entirely depends upon you on what best way you can handle the situation.
Regards,
Blue
This situation is a critical one as family members are involved. If you don't want to return it then you can talk to your father and your children and convince them the reason.
In any case none can force you out of the title with your name on the deed.
Regarding the Trust what you mentioned, they may be talking about the estate living trust where a trust is formed to hold ownership to a person's assets during the lifetime of the person and is distributed to heirs after the grantor's death.
Here the grantor may also serve as a trustee and control the assets although the assets belong to the trust. Although I'm not too sure what form of Trust you are talking about.
The decision entirely depends upon you on what best way you can handle the situation.
Regards,
Blue
Hi RJ,
Welcome to MortgageFit Forums.
I understand your situation. On one side are your children and on the other side your wish. I think if you don't want to give the property back to your father, you may sit with your children and talk to them.
If you can convince that neither they nor your father should feel in secured because of you holding the property, the matter will be solved.
Once the property is quit claimed to you, the transfer is final and only you can give it back at your wish. No outside pressure can force you to do that.
So, discussion is the best way to come out of this situation.
God bless you.
For MortgageFit,
Samantha
Welcome to MortgageFit Forums.
I understand your situation. On one side are your children and on the other side your wish. I think if you don't want to give the property back to your father, you may sit with your children and talk to them.
If you can convince that neither they nor your father should feel in secured because of you holding the property, the matter will be solved.
Once the property is quit claimed to you, the transfer is final and only you can give it back at your wish. No outside pressure can force you to do that.
So, discussion is the best way to come out of this situation.
God bless you.
For MortgageFit,
Samantha
1st thing that comes to my mind is why your siblings want this??
When your father has given you the house then why he wants it back. Looks like stiff relation among you people.
The best solution is Love and gesture. Try to convince them as I think you are the captain of your house and you are one who runs the family. So why they are not with you.
As samantha said that once its been given to you, now its your wish whether you want to give it back or not but the best way would be if you can convince them on this matter.
Adonis
When your father has given you the house then why he wants it back. Looks like stiff relation among you people.
The best solution is Love and gesture. Try to convince them as I think you are the captain of your house and you are one who runs the family. So why they are not with you.
As samantha said that once its been given to you, now its your wish whether you want to give it back or not but the best way would be if you can convince them on this matter.
Adonis