Posted on: 14th Feb, 2007 10:30 am
I have been granted title to my friends house in his living trust. He has since passed away. Is this teh correct form to use to tranfer ownership.
I am the sole heir and benificiary.
I am the sole heir and benificiary.
If your friend named you as the successor trustee then to take over the living trust you will have to prepare and record an Affidavit of Death of Trustee. In this affidavit you have to state that the original trustee has died, attach certified copy of his death certificate to it and get it recorded with the county recorder's office. This will facilitate the property transfer from the living trust to your name.
Welcome Davidwilliamallen.
When a grantor passes away, the successor trustee of the living trust gets similar powers as the former. He gets the rights to buy, sell or transfer property included into the trust. The trustee has to transfer assets as per the instructions of the grantor in the trust document. But he cannot change the trust.
Upon the grantor's death, the trustee pays off the unpaid debts, expenses and taxes without court order and distributes the property to the beneficiaries.
In your situation, you need to contact the successor trustee of the grantor. He will be transferring the ownership rights to you as the beneficiary.
Thanks.
When a grantor passes away, the successor trustee of the living trust gets similar powers as the former. He gets the rights to buy, sell or transfer property included into the trust. The trustee has to transfer assets as per the instructions of the grantor in the trust document. But he cannot change the trust.
Upon the grantor's death, the trustee pays off the unpaid debts, expenses and taxes without court order and distributes the property to the beneficiaries.
In your situation, you need to contact the successor trustee of the grantor. He will be transferring the ownership rights to you as the beneficiary.
Thanks.