Posted on: 08th Feb, 2009 09:58 pm
My mother passed away in October leaving me her sole beneficiary and sole sucessor trustee. Her home and everything else was "in" the trust. I want to move into her home and claim homestead exemption. She lived and I live in Florida. I wish to move into her home. But I need to put title into my name first. Another sie that answers questions online told me that since I was trustee I could execute a deed from the trust to myself. How, specifically, do I do that? Also, she has a mortgage on the home, but we continue to pay it. The bank said it was fine just as long as we continue paying the mortgage.
Hi Howlatmoonphotog,
Since you have mentioned you're the sole successor trustee, I think, you have automatically taken over the property on your mother's demise. In a trust, the property and all assets of the trust are transferred to the successor trustee, when the trustor passes away and this neither has to go through any probate nor does it need any court order. Once you become the legal owner of the property you will have to pay the taxes, debts and other expenses as mentioned in the terms of the trust documents.
Since you have mentioned you're the sole successor trustee, I think, you have automatically taken over the property on your mother's demise. In a trust, the property and all assets of the trust are transferred to the successor trustee, when the trustor passes away and this neither has to go through any probate nor does it need any court order. Once you become the legal owner of the property you will have to pay the taxes, debts and other expenses as mentioned in the terms of the trust documents.