Fresno, CA asked in Estate Planning and Real Estate Law for Oklahoma

Q: Relatives did a memorandum of trust on a property after death the property was not in the trust or accounted for

What does that mean

1 Lawyer Answer
James Tack Jr
James Tack Jr
  • Oklahoma City, OK
  • Licensed in Oklahoma

A: If the memorandum of trust was done after the death and the property was never transferred to the trust, the memorandum would not be effective. If the property was not transferred into the trust before death, an estate proceeding will have to be instituted to transfer good title to the property. If there was a will, the property will be distributed to the persons named in the will. If there was no will, the property will be distributed to the heirs at law. Depending on the status of the estate, there are a few expedited procedures that can get the property transferred to the proper persons relatively quickly and cheaply. If there is agreement between the parties the property is distributed to, they can transfer it to the trust. You should consult with an attorney to sort out the specific facts and determine the best course of action.

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