What are trustee deeds?

What are trustee deeds?

A trustee deed—sometimes called a deed of trust or a trust deed—is a legal document created when someone purchases real estate in a trust deed state, such as California (check your local laws to see what is required in your state). A trust deed is used in place of a mortgage.

Who is the trustee in a deed of trust?

Once a loan has been repaid, the trustee is responsible for transferring the legal title of the property to the borrower. To do this, the trustee must file a Deed of Reconveyance (a document stating the debt was paid) with the local county recorder or deeds registry.

What happens to a deed after the death of a parent?

Deeds to land and vehicles do not automatically transfer after the death of a parent. If the mother included the property as part of a living trust, title will pass on through an informal process. More commonly, however, the property will be included as part of the person’s estate.

How do I get title to my house after my mother dies?

If the property is included in a will, it will be probated along with the rest of the deceased’s assets. If neither a will nor a living trust is found, title will transfer according to state intestacy laws. Make a claim for title to the deed.

What happens when the trustee of a living trust dies?

The death of a trustee under a living trust means the successor trustee, also named in the living trust, assumes the trustee’s duties. Since the trustee holds legal title to trust property, the property is held in the trustee’s name. As a result, the successor trustee must prepare the necessary documents to change title to the trust property.

Who is the trustee of a deed of trust?

Like a mortgage, a deed of trust establishes real property as collateral for a loan. A trustee holds legal title to the real property under the trust deed until the borrower repays the lender. Trustees in these situations are often “entities like banks, title companies, or escrow companies” [2].

Deeds to land and vehicles do not automatically transfer after the death of a parent. If the mother included the property as part of a living trust, title will pass on through an informal process. More commonly, however, the property will be included as part of the person’s estate.

How to transfer a deed from a trust?

The original deed named the trust and included the name of the trustee. You must transfer the deed into your name now, using the words “as trustee,” followed by the name of the trust and the date you transferred it. Repeat this step for all real property in the trustee’s name.

Can a deceased person be removed from a title deed?

Removing a deceased person from a property deed clears up the land and property tax records and allows the new owners to deal with the property. Removing a deceased owner can be very simple or very complicated.