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  1. #1
    Join Date
    May 2008
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    2

    Default Changing Names On Deed Of Trust

    My question involves estate proceedings in the state of: CA

    I'd really appreciate any advice as I'm having difficulty getting answers from our attorney.

    I'm the successor trustee of my mother's trust. She owned a house with a mortgage. My two sisters and I are the beneficiaries.

    According to our attorney, the "Final Estate Distribution" was approved by the court in April 2008 (I have not seen this paperwork, nor any other court documents yet).

    I've heard conflicting things about what to do now. Do I simply record a new Grant Deed showing the transfer from myself as successor trustee to the beneficiaries?

    As for the mortgage: When my mother passed away I called the bank and they said I should change the name on the loan to "The estate of (my mother's name) and (my name) as Successor Trustee." Which I did. I called back recently and asked about putting the loan into the names of my sister's and I but they said it wasn't necessary. Does that make any sense?

    Thanks for any help on this.

  2. #2
    Join Date
    Sep 2005
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    98,846

    Default Re: Changing Names On Deed Of Trust

    Quote Quoting LostAsUsual
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    I've heard conflicting things about what to do now. Do I simply record a new Grant Deed showing the transfer from myself as successor trustee to the beneficiaries?
    You do what you are instructed to do by the trust and, to the extent relevant, the court. We haven't seen the trust and don't know why the probate court is involved, so we can't confirm what you are supposed to do.
    Quote Quoting LostAsUsual
    As for the mortgage: When my mother passed away I called the bank and they said I should change the name on the loan to "The estate of (my mother's name) and (my name) as Successor Trustee." Which I did. I called back recently and asked about putting the loan into the names of my sister's and I but they said it wasn't necessary. Does that make any sense?
    Are they expecting to be paid off? If so, when you pay them off or refinance the issue becomes moot.

  3. #3
    Join Date
    May 2008
    Posts
    2

    Default Re: Changing Names On Deed Of Trust

    Mr. Knowitall,


    Thanks for the reply. The probate court is involved because of a screwup- the house was supposed to be in a trust. It's a long boring story, but the upshot is that a "pour-over" will was involved and that required probate.

    The trust says that all assets be transferred to me as successor trustee, and then distributed to the 3 siblings as equal beneficiaries. I'm just trying to figure out if I need to record a new Grant Deed or not.

    As for the mortgage: They're not expecting to be paid off. They said we didn't have to do anything, just leave the mortgage in my mother's name. This seemed wrong so I called back and was told the same thing.

  4. #4

    Default Re: Changing Names On Deed Of Trust

    If there are three of you the best thing to do is to sell the house and split the money. If not you can expect trouble down the line.

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