IF SO, HOW CAN THE PROBLEM(S) BE RECTIFIED? A LAND TRUST DEED WAS FILED AT THE REGISTER OF DEEDS OFFICE AND A LAND TRUST AGREEMENT WAS EXECUTED BUT, WAS NOT FILED WITH THE REGISTER OF DEED'S OFFICE. SOMEONE AT A TITLE COMPANY TOLD ME THAT MICHIGAN DOESN'T RECOGNIZE LAND TRUST EVEN THOUGH THERE ARE NO LAWS IN MICHIGAN REGARDING LAND TRUST. I WAS ALSO, TOLD THAT I WOULD NOT BE ABLE TO GET TITLE INSURANCE.
Real Estate Attorney
You are going to want to establish a relationship with an attorney local to the property. You're going to want that lawyer to be familiar with you, your trust, the property, the beneficiaries, and the buy/sell relationship and related documents. I am in southeast Michigan and will help you in any way I can.
Feel free to call my office to discuss this matter further if you'd like. I am a licensed real estate broker as well as an attorney (586) 405-4937.
1 lawyer agrees
Estate Planning Attorney
Unfortunately, your question cannot simply be answered through this forum. You need to have the Land Trust Agreement and Land Trust Deed reviewed by an experienced attorney who can then advise you as to what, if anything needs to be done.
Except for Federal Tax issues, my answers are limited to Michigan law since I am a licensed attorney in the State of Michigan. Moreover, answers to questions are for general purposes only and do not establish an attorney-client relationship.
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Elder Law Attorney
WITH ANY TRUST OR WILL OR POWER OF ATTORNEY OR DEED OR ANY OTHER LEGAL DOCUMENT YOU CANNOT RELY ON THE LABELS ATTACHED TO THE DOCUMENT YOU HAVE TO LOOK AT THE DOCUMENT ITSELF. MICHIGAN RECOGNIZES TRUSTS BUT NOT EVERY DOCUMENT THAT CALLS ITSELF A TRUST IS A TRUST I HOPE THIS IS CLEAR. (Whew, my lungs hurt after all that yelling)....
This is not legal advice. I am not your lawyer. You are not my client. You cannot rely on my response to your question. My response to your question is probably worth exactly what you paid for it. You don't get to sue me for anything. If you'd like to sue me, well you have to hire me first.
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Estate Planning Attorney
I don't see why you could not just have the land trustee prepare a deed with a letter of direction signed by the beneficial interest holder directing that the property be deeded to the buyer. That should solve the problem. I would suggest you have an attorney review the documents for you. Also, is the beneficiary competent to sign a letter of direction to the land trustee?
4 lawyers agree