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In a trust arrangement, a settlor transfers property to another person (the trustee) for the benefit of a third (the beneficiary).
Because the trust is not a person, title to any real property transferred to the trust should be vested in the name of a trustee on the trust’s behalf. In most living trusts, the settlor serves as trustee.
Continue reading “Transferring Real Property from a Living Trust in Alabama”A trust is an alternate option for holding title to real property. Trusts involve three parties: the settlor (sometimes called the grantor), who contributes property to the trust; the trustee, who holds title to the trust property and administers the trust; and the beneficiary, who has a present or future interest in the trust.
Continue reading “Real Property Transfers by Trust in New Mexico”In the State of North Carolina, living trusts are governed by the North Carolina Uniform Trust Code, at Chapter 36C of the General Statutes. (Business trusts are governed by Chapter 39, Article 8 of the General Statutes.)
Continue reading “Real Property Transfers out of Living Trusts in North Carolina”A trust is a property interest wherein a settlor conveys assets to a trustee, who holds the title to those assets for the benefit of a third party (the beneficiary). Valid trust instruments also identify the relevant assets, state the settlor’s intentions for them, and are created for lawful purposes. Settlors (owners) transfer real property into a trust by executing and recording a deed.
Continue reading “Transferring Real Estate from a Living Trust in New Hampshire”A trust is a legally binding arrangement whereby a settlor transfers title to another person, the trustee, for the benefit of a third, the beneficiary. Trusts in Massachusetts are governed by the Massachusetts Uniform Trust Code, codified at G.L.c. 203E.
Continue reading “Understanding Massachusetts Trusts, Trustee’s Deeds, and Trustee Certificates”When choosing a trustee’s deed in the State of Idaho, it is important to understand the difference between the two very different types of conveyances the term can refer to: the trustee’s deed as used in estate planning, and the trustee’s deed upon sale, used in cases of foreclosure of a deed of trust.
Continue reading “Idaho Has Two Trustee’s Deeds – What’s the Difference?”Non-judicial foreclosures in Texas are governed by Chapter 51 of the Texas Property Code, which outlines the foreclosure process for residential property, or the property used by borrowers as their principal residence [1]. Foreclosures of non-residential property follow different procedures.
Continue reading “The Guide to Texas Trustee’s Deed”Trustee’s deeds convey real estate out of a trust. Depending on the circumstances, they may or may not include warranty to the title. They are also used in some foreclosure situations (generally without warranty). In addition to meeting the state and local content requirements for traditional deeds (grant deeds, quitclaim deeds, etc.), they should include a reference to the related trust and trust agreement.
Continue reading “Understanding Trustee’s Deeds”