There is no legal restriction on the home town or state of residence for a named Executor. But a suggestion: ‘convenience and ease of availability’ should be considered in naming your Will’s Executor…
The options to revise the terms of an existing Living Trust document are to prepare a written Trust Amendment, or to redraft the entire Trust document in total.
Usually, a lease contract is written with ‘joint and several’ responsibility for the payment of the rent. That means each tenant is responsible for the full amount of the rent due, not just his or her ‘part’.
Yes, non-married individuals can be Grantors and Trustees in a Joint Trust they create.
Completing a property sale using a Quitclaim Deed when one of the listed owners of that property is a minor who is not living in the parent’s home is a complicated issue with several variables.
The first issue is the minor’s ability to enter into a binding contract (i.e. the transfer of the property to a third party), as such contracts are voidable by the minor due to his age. But there are additional considerations and potential solutions.
If you decide to move to another house that has been deeded to your Living Trust, you, as Trustee of the Trust (which owns the real property through your original quitclaim deed), can execute a Deed selling or transferring ownership of that house to your purchaser(s). Then when you purchase a new home, you can … Read more
In most cases, photocopies are sufficient.
A few contingencies are required to determine if a home contained within a Living Trust can be transferred from the Trust to one of the Makers as part of a divorce settlement.
The vast majority of states have no firm set time period or “grace period” for requiring the tender of a Deed for real property upon the completion of payments on a private mortage.
So long as the contract is properly written, a provision providing that the buyer will sign a Deed to avoid having the seller go through a foreclosure process to reclaim title to the property would be enforceable.