Posted on: 09th Jun, 2008 01:24 pm
My mom has a revocable living trust in place with me as the beneficiary. Can she transfer the real estate property in the trust to me using a quick claim deed?
Welcome jbrings,
If you are the beneficiary, then I think your mom can transfer the trust over to you using a quitclaim deed.
If you are the beneficiary, then I think your mom can transfer the trust over to you using a quitclaim deed.
Only the trustee can transfer property. Check the trust to see if your mom is the trustee. Also, there must be a power of sale clause in the trust.
Alternatively, she could revoke the trust, in which case the property would revert to the trustor (your mom). She could then transfer it.
Alternatively, she could revoke the trust, in which case the property would revert to the trustor (your mom). She could then transfer it.
My mom is the trustee of the living trust, but I do not believe the trust includes a power of sale clause. It appears revoking the trust is the best option, followed by the transfer.
Since your mom is the trustee, then I think you don't have to bother about the power of sale. Had the trustee been some other person, then he/she could have exercised the power of sale.
Thanks for sharing this information. It makes sense that since my mom is the trustee, she can transfer the property without a power of sale clause.
The trustee only has the powers set forth in the trust. If the trust document does not give the trustee the power to sell the property, she cannot.
Check the trust document. A power of sale clause is usually included.
Check the trust document. A power of sale clause is usually included.