QUESTION
Am I the sole owner of the house after their death?
Asked on Oct 22nd, 2012 on Estate Planning - California
More details to this question:
Parent’s home was held in a trust and I am a joint tenant outside of the trust. I am also the trustee and executor of the estate. I have siblings, who are not on the grant deed, that are in the will, wanted to sell the house and split up the proceeds now. I want to rent it out for now and wait until the market comes back to sell. Is the property solely mine, because I am the surviving joint tenant or do they have a portion of ownership through the will which states that all siblings have equal shares of their estate?
20 ANSWERS
Alternative Dispute Resolution Attorney serving Baltimore, MD
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Whiteford, Taylor & Preston L.L.P.
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It depends on the terms of the deed, the trust, and the will.
Answered on Jun 26th, 2013 at 10:05 PM
Civil Litigation Attorney serving Ventura, CA
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The Law Office of Robert I. Long
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In California, that present s both title and trust contest issues beyond the scope of this format. You may have become sole owner o f record, but that does not mean your siblings do not have cognizable claims. You absolutely need an attorney licensed to practice in the state where the property is located to advise you .
Answered on Nov 06th, 2012 at 9:34 PM
Bankruptcy Attorney serving Alpena, MI
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Carl C. Silver Attorney at Law
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First you need to obtain a copy of the deed to the house from your county register of deeds office to determine if the house is deeded to the trust or to you and your parents as joint tenants. It can't be owned by both as implied by your question.
Answered on Oct 24th, 2012 at 5:04 PM
Civil Litigation Attorney serving Aptos, CA
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Richard E. Damon, P.C.
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If the house is in the trust, you are not a joint tenant, and the provisions of the declaration of trust determine who gets the house when the second parent dies. I think you have to get the facts straight before I can give you advice.
Answered on Oct 24th, 2012 at 5:03 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Upon the death of your parents, the trust became fixed and non-modifiable. Since the real property was transferred into the trust, the trust provisions as to distribution control; any joint tenancy you may have had with your parents before the termination of the trust, was terminated when the property was transferred into the trust, terminating the joint tenancy; you may still have a tenancy in common interest in the real property, if your parents only transferred their undivided one half interest in the real property into the trust.
Answered on Oct 24th, 2012 at 5:03 PM
General Practice Attorney serving Glendale, CA
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Law Office of Michael Stafford
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The general rule is that title to property owned in joint tenancy vests in the surviving joint tenant or joint tenants upon the death of the other joint tenants. If you are the sole surviving joint tenant than you own the property free of the will.
Answered on Oct 24th, 2012 at 5:03 PM
Federal Taxation Attorney serving Livonia, MI
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Gold & Associates PC
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You really need to have a qualified probate attorney review the Will, Trust and Deed to determine and advise you how the property was held.
Answered on Oct 24th, 2012 at 5:01 PM
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Your question is confusing the home really cannot be in a joint tenancy and in a trust. Usually a home is in a trust or in a joint tenancy but not both. I suggest that you meet with an attorney who can look at the deeds and advise you on the ownership status. Maybe it used to be in one and was transferred to the other? Again pull copies of the deeds and meet with an attorney to address your specific situation.
Answered on Oct 24th, 2012 at 5:00 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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This depends on the terms of the trust and the language of the deed. You should get an attorney to review both real property is worth too much to make mistakes. Incidentally, if you sell into a bad market, you then have cash you can use to buy in the same bad market.
Answered on Oct 24th, 2012 at 4:59 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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The house was either in joint tenancy with you or it was in a trust (or maybe something else altogether). A trust cannot be a joint tenant. If no trust is involved and you are a joint tenant, then it probably belongs to you. If they originally held it in joint tenancy with you and then they put their two-thirds into a trust, then you own a third. If it was in trust completely, then you (as an individual) own nothing. The Trust must be administered in accordance with the terms of the trust instrument. If the trust says that the estate is to be distributed, then you should not hold it for investment or other use, but should sell now.
Answered on Oct 24th, 2012 at 4:58 PM
If the deed is a true joint tenancy deed then you are the sole owner of the property. You should consult a real estate attorney to review the deed and advise you.
Answered on Oct 24th, 2012 at 4:57 PM
Elder Law Attorney serving Hollister, CA
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Charles R. Perry
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You definitely need to consult with an attorney regarding this problem. My quick research suggests that if you and your parents were joint tenants before the transfer of the property into your parents' trust, then the joint tenancy was destroyed, and your parents' interest in the property would pass according to the terms of the trust. The question, however, does not appear to have been definitely resolved in the courts, as this is simply the the opinion of legal commentators. Further research is needed. I do not know what happens if the joint tenancy was created after the property was in the trust. As trustee and executor of the will, you have the power to probate the estate and obtain a declaration from the court as to whether the property should be transferred pursuant to the trust document or the terms of the joint tenancy. You also have an obvious conflict of interest here, and I do not know off the top of my head how the court would treat that. In any event, you would control the property until it is finally distributed, and your siblings could not force a sale through a partition action until they receive some interest in the property. As I said, you need to consult a lawyer, as these are difficult questions.
Answered on Oct 24th, 2012 at 4:57 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Need many more details, could be your house or your siblings could protest the transfer. Seek counsel with the details to get a firm opinion.
Answered on Oct 24th, 2012 at 4:55 PM
Administrative Law Attorney serving Sherwood, OR
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Employment Law Professionals Northwest LLC
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If the house is a trust asset, the trust controls its disposition. You should not take any action with the house without having the trust documents and will examined by an attorney, preferably the one who prepared them.
Answered on Oct 24th, 2012 at 4:55 PM
Thomas Edward Gates
If the home was held in trust, the trust document governs the handling of the house. The will controls distribution for all items that are not in the trust.
Answered on Oct 24th, 2012 at 4:55 PM
Leonard A. Kaanta
If you a joint tenant with full rights of survivorship the property belongs to you.
Answered on Oct 24th, 2012 at 4:54 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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You have a very unusual situation. I have almost never seen anyone own property jointly with a trust. The terms of your documents are going to govern and it sounds like you need to have those reviewed. The Trust controls only assets within the trust. The Will controls only assets in the decedent's name alone. The deed can by-pass both Trust and Will, depending on its terms. Or the deed could provide that the share of the parents goes to their estate. This may not have been the intent, but I have had numerous situations where this has happened. If everything was set up through an attorney, it is very likely done right. Without being able to see the documents, however, it is impossible to say exactly where you stand.
Answered on Oct 24th, 2012 at 4:54 PM
You are the sole owner, since it was joint ownership, it passes outside the trust and probate.
Answered on Oct 24th, 2012 at 4:53 PM
If you are the joint owner with rights of survivorship, you own the house. Have an attorney look at the deed to make sure.
Answered on Oct 24th, 2012 at 4:53 PM
Shadi Ala'i AlaiShaffer
Only an attorney who properly reviews the deeds, the title on the deeds, and the estate planning documents (the Trust, Will, etc) can give you a proper answer to this question. I highly suggest you seek some help from an estate planning attorney before you do anything regarding the home or the trust.
Answered on Oct 24th, 2012 at 4:52 PM