QUESTION
Will I need to remove house from Trustee?
Asked on May 04th, 2016 on Estate Planning - California
More details to this question:
I am the Successor Trustee of a property. I was considering taking a loan out on the house. Would I need to take the house out of the trustee?
1 ANSWER
Estate Litigation Attorney serving Redlands, CA
at
Price Law Firm, APC
Update Your Profile
There are lenders that will lend on a house that is in the name of a trust. If you want to take title in your own name and you are also a beneficiary of the trust, then you can transfer the property into your own name for purposes of refinancing and then transfer it back into the trust. You should have already recorded an affidavit of death of trustee.
Answered on May 04th, 2016 at 5:59 PM