Last August monies were transferred to a friend/trustee of a Special Needs Trust for my benefit, from a trust left by my late father 2 purchase a "fixer" house 4 me in California. The title was left in her name so she could get an equity line/mortgage 2 remodel it cause banks won't lend 2 a trust. She still hasn't gotten a loan & doesn't seem motivated 2 do so. She's a senior; going on vacation 2 Alaska next week; lives in Florida & B 4 she leaves, needs 2 transfer title of the house 2 the SNT 4 me. If she dies B 4 she returns it will be stuck in her estate & I will have a big problem w/her family. Must transfer taxes B paid when she transfers title of the house into the SNT or 2 me as individual? What documents must B signed 2 effect the transfer? Her inactions R hurting me. HELP!
The term real estate means land and items permanently attached to it, like buildings. This area of law deals with who has the right to own and use these items.
A trust is an estate planning tool in which you allow a third party (called a trustee) to hold your assets on behalf of your beneficiaries. Several types exist.