Log in

View Full Version : Inheritance of residential property


Trust in Deed
Mar 12, 2009, 09:12 AM
Hello,
My father will leave me his home property via the Family Living Trust that's currently in his name. There will be a mortgage due, and I am told that as long as I continue making payments on this (non-assumable) loan, there is nothing further I need to do. How then can I get this property in my name/s when the time comes?
Thank you !
JM

George_1950
Mar 12, 2009, 12:59 PM
I believe the trust includes language that disposes of trust assets. Have you read the trust completely? Check this: "It also enables you to pass property after your death to family, friends and/or loved ones. It allows you to appoint someone (a successor trustee) to make certain your property goes to the ones you choose after your death." What is a Living Trust (http://www.estateplanninglinks.com/epl_course/living_trust.htm)