Skip to main content

Do I need to change deed on property to list new trustee under Revocable Trust when one trustee passes.

Saint Peters, MO |

Mothers deed on property is in a revocable dated trust agreement listing her and my father as trustees. Father has passed and now I am listed as a successor co-trustee on her Revocable dated Trust. Do I need to get my name on the deed as trustee or can I just wait and follow the trust whenever something happens to her and transfer ownership of property per her trust at that time.

+ Read More

Attorney answers 5

Posted

You do not need to file a new deed. Once real estate has been transferred into a trust, no new deed is required upon the death of the trustmaker, a trustee or a beneficiary to retain the real estate in the trust.

There are only two situations when you will need to file a new deed: (1) any transaction that the trust enters into with respect to the real estate, like a loan or a sale; and (2) if the trust provides for a distribution out of trust to a beneficiary.

Disclaimer: My answer is provided without all relevant facts, let alone your unique objectives. No attorney-client relationship is hereby created as a consequence and you should not take (or not take) any action based on my answer. I highly recommend that you consult with competent legal counsel before deciding to take or not take any action, as every situation is more complex than it appears.

Posted

I agree that there is likley no need to execute and record a new deed in this situation.

This is not legal advice nor intended to create an attorney-client relationship. The information provided here is informational in nature only. This attorney may not be licensed in the jurisdiction which you have a question about so the answer could be only general in nature. Visit Steve Zelinger's website: http://www.stevenzelinger.com/

Posted

Just wait until her passing and transfer property at that time under the supervision of an attorney
as to the appropriate time.
Many factors to consider as timing of tranfers.

The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.

Posted

No new deed is needed because ownership has not changed. The trust is the owner not the trustee. Its like ownership by a company. The company still owns the property even though there is a new president.

INDEPENDENT LEGAL ADVISE IS RECOMMENDED. The forgoing opinion is based upon limited and hypothetical information. The answer provided is not intended as a substitute for legal representation and is not intended to create an attorney/client relationship.

Posted

Attorneys Lehnardt and OBrien gave good explanations of why and when you may need a replacement deed as a successor trustee .

The contents of this post do not establish an attorney-client relationship. Any comments made in this post are general in nature and may not apply to the specific facts and law of your case.