Posted on: 27th Feb, 2010 11:14 am
My parents have requested that the house be put in my name only.
They are both ill and do not want me to incure any problems when the time comes.
There is a living trust with me as administrator. What are the forms I need to take to the recorder to change into my name only?
Virginia
They are both ill and do not want me to incure any problems when the time comes.
There is a living trust with me as administrator. What are the forms I need to take to the recorder to change into my name only?
Virginia
Hi virginia,
As far as I know, there are some states which will require the successor trustee to record a "Certificate of Incumbency" and the death certificate to provide an official status to the successor trustee. After this, he/she will have the same powers that the Grantor had as Trustee to buy, sell, borrow, or transfer the assets inside the trust. However, you can contact an attorney and he can help you in a better way regarding this.
As far as I know, there are some states which will require the successor trustee to record a "Certificate of Incumbency" and the death certificate to provide an official status to the successor trustee. After this, he/she will have the same powers that the Grantor had as Trustee to buy, sell, borrow, or transfer the assets inside the trust. However, you can contact an attorney and he can help you in a better way regarding this.