Posted on: 22nd Nov, 2008 04:02 pm
can i make a quit claim deed with my brother to remove him as a trustee of a piece of property?...our mother has passed away and i was wanting to purchase the property left in the trusts name. i was going to pay my brother an agreed upon price. i want to pay him and do a quit claim deed and keep the trust in tact and continue paying on the remaining loan that the trust currently has ongoing.
Hi js!
Yes, you can ask your brother to sign a quitclaim deed in your favor in order to transfer the property in your name. But you should inform the lender about the transfer of property as well.
Thanks.
Yes, you can ask your brother to sign a quitclaim deed in your favor in order to transfer the property in your name. But you should inform the lender about the transfer of property as well.
Thanks.
A Quitclaim Deed will not remove your brother as Trustee of the Trust. You may be able to purchase the property from the Trust, depending on the Trust terms. You would pay the trust, not your brother. The proceeds of the sale would remain in trust.
I would recommend a Grant Deed, not a Quitclaim Deed.
I would recommend a Grant Deed, not a Quitclaim Deed.
