Q: Please help me understand exactly what this means? Real estate transfer notification
US Bank Trust National Association, as trustee of the LB-Ranch Series V Trust by SN Servicing Corp. as attorney in fact, of Eureka, Calif., sold a residence at 212 S.E. Front in La Prairie to Mike Fuhrman of La Prairie for $12,000 on May 30. I don't understand the beginning of this statement or notification. My grandparents passed away in 2014 and 2017 and since then their estate has been basically abandoned. My dad and his siblings want nothing to do with the house which makes me the next heir. I was in the process of trying to figure out how to transfer the deed to my name but was having a hard time because I can't afford a lawyer and was trying to learn everything on my own. But somehow this man swoops in and is able to buy the state without notifying me for 12000. Where did that money go because escrow was paying the property taxes on my grandparents house. Even if they somehow were to not pay the property taxes or fall behind it would not be 12grand
Lawyers, want to be a Justia Connect Pro too? Learn more ›
- (916) 704-3009
- View Profile
- Answered
A:
It sounds like the trust managing your grandparents' estate took action to sell the property. The US Bank Trust National Association acted as the trustee, meaning they were responsible for handling the assets in the trust. Sometimes, when an estate isn't actively managed, the trustee may decide to sell property to pay off any outstanding debts or taxes related to the estate.
The sale price of $12,000 seems quite low, which might indicate that the property was sold through a foreclosure or a tax sale rather than a regular market transaction. This could happen if property taxes were not kept up, prompting the trustee to act to prevent further financial issues. The money from the sale would typically go towards covering these debts, taxes, and any other expenses tied to the estate before any remaining funds would go to heirs.
Since you are the next heir, it's important to get detailed information about the sale. You can start by contacting the trustee mentioned in the notification to ask for a breakdown of how the funds were used. Additionally, reaching out to your local probate court or an estate attorney who offers pro bono services might help you understand your rights and explore any possible steps you can take to reclaim or contest the sale if necessary.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
