Posted on: 02nd Nov, 2009 10:51 am
Hi, My mom has just recentley passed away and there is a trust drawn up and I am the trustee and the house is left to me . I have been making her payments fo the last couple months as she was to sick. How do I go about getting the taxes and deed transfered over to me. I have talked to the mortgage company and once I get a death certificate they said I could assume the loan which I plan on doing . I am just not sure how to get the property taxes transfered to my name and do I have to get the deed as well put over or is that something that happens with the lendor. Any help would be greatly appreciated.
Going through the process of settling the Trust will result in Title being transferred to you legally, and recorded. Continue paying the mortgage and taxes, and the taxes will get into your name after Title is recorded.
It's nice of the Lender so allow you to assume the loan - but that'll result in Title being changed into your name, and you really don't want to do that until the Trust is settled, because the Trust can be challenged, and if it is, Title could be rewarded to somebody else. It'd be a bummer if your name was on the Note and Title (from the assumption), and then Title was awarded to somebody else.
It's nice of the Lender so allow you to assume the loan - but that'll result in Title being changed into your name, and you really don't want to do that until the Trust is settled, because the Trust can be challenged, and if it is, Title could be rewarded to somebody else. It'd be a bummer if your name was on the Note and Title (from the assumption), and then Title was awarded to somebody else.