Q: My father is deceased his house is in Trust, I'm the successor Trustee. Is the house considered mine? Like a 2ndary home
I am trying to sell the house. I signed up, through my work, with a legal plan that pays for various legal services. They are saying that the house is in my father's name and so therefore it is not a covered service since the house is not in my name. But in the Declaration of Trust I am named as successor Trustee and the Executor of everything in my father's name. The house was put in Trust while my father was still alive and my father was named the Trustee until he died, then I became Trustee. So wouldn't that mean that the house is still in my name as Trustee?
A: Hopefully, at the time of the Declaration of Trust, your father's attorney also recorded a Quit-Claim Deed transferring the title from your father to the Trust. If not, then we would need to work with the Title Co. to record an Affidavit of Heirship to determine all the parties with an interest in the property. You should have an attorney discuss your options and shepherd the transaction to closing.
Anthony M. Avery agrees with this answer
1 user found this answer helpful
A: The house being in your name as trustee is not the same thing as the house being yours. Assuming the house has been deeded into the trust as indicated by Mr. Kottaras, above, what happens to the house is determined by the terms of the trust. You, as trustee, are duty bound to do what the trust says to do with the house.
Anthony M. Avery agrees with this answer
1 user found this answer helpful
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