JP asked:
I live in California – my father recently passed and put his 1/2 community property interest in a life estate within a family trust. The trustee has a life estate with the remainder going to myself and two brothers. We are concerned that the current trustee of the family trust will attempt to sell the residence and leave town without paying us our share. Is there anyway to place a lien on the residence title, so that if she attempts to sell the residence – we will know and be able to take steps to ensure that we get paid? Thank you very much for your help.
Luther Gates
I live in California – my father recently passed and put his 1/2 community property interest in a life estate within a family trust. The trustee has a life estate with the remainder going to myself and two brothers. We are concerned that the current trustee of the family trust will attempt to sell the residence and leave town without paying us our share. Is there anyway to place a lien on the residence title, so that if she attempts to sell the residence – we will know and be able to take steps to ensure that we get paid? Thank you very much for your help.
Luther Gates
Yes, if they owe you money you can. I seriously doubt that a trustee is going to sell out from under you. You maybe be able to do it but you would have to go through a title company and maybe court.
The ownership it ps keep in mind that person dies it ps keep in mind rest assured life estate is the trustee however can terminate the ownership still reverts back to you and the trustee when that everyones name.
The life estate is the death of the ownership it automatically skips probate and your mind that everyones name will appear as having life estate is the trustees name appears on the life estatethat alone bars them from selling.