What needs to be done to the title of real property after trustee of trust holding real property dies?
Houston, TX |
Dan created trust and transferred Harris County property into trust. Dad died and I am the successor trustee. What do I need to do so that title reflects that Dad, the old trustee, has died, and that I am now serving as the successor trustee?
If the trust agreement states you are the successor you should be fine. Normally, when you sell real property, you go through a title company. The title company will ask for a copy of the trust agreement (if it is not of public record) so they can verify who is authorized to act. It is then that you would show the title company a death certificate to prove your Dad had passed away. Similarly, if you are dealing with tenants or entering into any other contract involving the trust, the other party should be asking for a copy of the trust agreement and death certificate to know that the transaction is valid.
However, each situation usually has more going on than what appears, so you should consult a real estate or estate planning attorney before taking any action.
Sorry for your loss.
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In lieu of providing the entire trust agreement to third parties, as a matter of privacy, you should be able provide a certification of trust evidencing your authority to act as successor trustee. In any event, the death of a trustee does not terminate trust unless the terms expressly say so.
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I agree with the prior answers. At this point, you don't have to do anything. When it comes time to transfer the property to the beneficiary named in the trust, it would be wise to consult a real estate or probate attorney to make sure it is done properly.
Newill Law Firm
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