Archive for the ‘Renting & Real Estate’ Category
Can you put the deed of a low income house into a family trust or real estate trust. I’m in a risky business and I would like to make sure my family will not lose our house in case of a lawsuit.
Omega Nellis
We are running a leasing business in our hometown in the philippines. my uncle during the settlement of my grandparent estate was appointed to be the Administrator until the deliveries of partition is completed. However, my uncle being the eldest among his other siblings and co-heirs, would act and decide things without asking for consent from the other heirs.
He is a CONTROL FREAK in almost everything. the leasing business started in 1993 and still operating to present time. The heirs executed a MOA on how to distribute funds among themselves… In short there are 2 items in their MOA that must be exercised or for implementation. taxes / and a certain 10% as a general generating common funds to be retained in the their depository bank for payments of real property taxes and bank charges… however as years went by, this 10% common funds is not been followed and him being one of the authorized signatory in the bank would disburse w/out any recording & financial reports for 13 years.
cont…
Now, he reverted or personally imposed that the 10% common funds would be alloted or treated as 10% Honorarium w/c he is the only one getting on top of his 1/6 share from the rental proceeds each month.
he doesn’t want to be questioned on his management and government towards the business and refuse to entertain any changes or amendments on their MOA.
Auditing of the funds is another thing he sights that he is obligated to or be forced into… Status Quo on his business management is what he would always expressed to his younger co-heirs… The estate of my grandparent is been settled in 2003 and assumed that his administratorship Title is been long ceased due to the settlement of the estate…
He continues to govern as if he is still in power over all of us… Is he legally entitled to honorariums? He is the one determining what amount he can get as honorarium for himself… What can I do to make him produce documents and be subjected to audit those accounts.
Bruno Dadisman
the house is in bad shape and no one wants the responsibility. the house is in a good neighborhood in san francisco. i think it would be worth it to keep the house and the house has been in the family close to 50 years, i am also the trust administrator. any suggestions?
Shellie Cernohous
I am talking about taking personal loans for thenselves before the money is distributed to the remaining beneficiaries. What does it mean when an atty says the other co-trustee needs to re-establish the Trust Bank acct? What can happen?
Cordelia Gunn
I am looking at transferring my home that I have owned for 2 years into the family trust name (me, my father, my brother and my daughter) But I have no idea what I need to do, how to do it, or what I have to pay to do it. (I’m an australian resident)
Just wanting ‘general’ information, not definite by the book.
Stacia Escher
In a home trust what happens if you have the other person in the trust a non relitive or family member.
Monroe Delanuez
The Bassham Family Trust has purchased several apartment complexes around the country, but it’s quite a mystery (online anyway) as to how to get in touch with them if you have a complaint about one of their complexes. There seems to be no free data online about them, other than public records of their purchases. Does anyone know how to reach them?
If I knew what city they were located in, I’d try the phone book, but even that information doesn’t appear to be available. Any help would be appreciated.
Octavio Spragins
home a joint tenants and jointly took out the loan on our home. If we set up the trust, naming ourselves as co-trustees, would we have to do anything with our home loan, such as having the loan changed to reflect the trust now owns our interest in the home? I have been told “no,” but am just checking to make sure that is a correct answer.
Matt Bockenstedt
I need to put the deed to my house in the name of our new family trust. How do I do that?
Teresita Viscia