Ad
related to: selling property as an executor of trust meaning in real estate
Search results
Results from the WOW.Com Content Network
In probate, divvying up assets, including real estate, is a duty that falls to an executor. That may be someone named in the will, such as a family member or an attorney, or it could be someone ...
Under the statute of uses, modern real property law disregards this subtle distinction. [ citation needed ] A bargain and sale deed is especially used by local governments, fiduciaries such as executors , and in foreclosure sales by sheriffs and referees .
Transactions involving deeds of trust are normally structured, at least in theory, so that the lender/beneficiary gives the borrower/trustor the money to buy the property; the borrower/trustor tenders the money to the seller; the seller executes a grant deed giving the property to the borrower/trustor; and the borrower/trustor immediately executes a deed of trust giving the property to the ...
For an express trust to exist, there must be certainty to the objects of the trust and the trust property. In the USA Statute of Frauds provisions require express trusts to be evidenced in writing if the trust property is above a certain value, or is real estate. Fixed trust: The entitlement of the beneficiaries is fixed by the settlor. The ...
"A common adage in the industry is to name your enemy as your executor as a means of revenge," says John O. McManus, an estate attorney and founding principal of McManus & Associates in New York City.
An executor is a type of personal representative who’s specifically designated in someone’s will to carry out their final wishes and distribute their assets. A financial advisor can be […]
A trust company can be named as an executor or personal representative in a last will and testament.The responsibilities of an executor in settling the estate of a deceased person include collecting debts, settling claims for debt and taxes, accounting for assets to the courts and distributing wealth to beneficiaries.
In some jurisdictions, a deed of trust is used as an alternative to a mortgage. [9] A deed of trust is not used to transfer property directly. It is commonly used in some states — California, for example — to transfer title to land to a “trustee”, usually a trust or title company, which holds the title as security ("in escrow") for a ...
Ad
related to: selling property as an executor of trust meaning in real estate