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The disclaimer must be in writing and submitted to the court overseeing the disposition of the estate within a legally specified time period, which is usually nine months after the death of the person from whom the disclaiming party stands to inherit, or twelve months after the creation of a trust by a living person. An affidavit may be ...
A deed of trust refers to a type of legal instrument which is used to create a security interest in real property and real estate. In a deed of trust, a person who wishes to borrow money conveys legal title in real property to a trustee , who holds the property as security for a loan ( debt ) from the lender to the borrower.
A small estate affidavit is a sworn legal document that may allow an estate to avoid going through probate. Small estate affidavits are permitted in many states, as long as the value of the estate ...
Perhaps the most common example of an equitable interest is the interest of a beneficiary under a trust. Under a trust, the trustee has a legal interest in the trust property and all of the rights and powers that follow from that legal interest (for example, rights to deal with that trust property and to invest trust property), subject to the ...
A southwest Missouri city improperly spent $120,000 from a restricted trust fund and paid $17,000 to a business owned by a former mayor. A former local prosecutor in Kansas stole electronics and ...
Bailment is a legal relationship in common law, where the owner transfers physical possession of personal property ("chattel") for a time, but retains ownership. [1] The owner who surrenders custody of a property is called the "bailor" and the individual who accepts the property is called a "bailee". [2]
The declaration of a trust is through a "deed to trustee". If the trust is filed as a public document, it removes all of the asset protection provided by the formation of the land trust. Robert Pless pioneered the use of the land trust that has been used by many firms throughout the United States since the early 1990s. [citation needed]
Indiana lets qualifying heirs of a person who dies without a will avoid probate through a small estate affidavit. Beneficiaries of a small estate can usually claim bank accounts and other estate ...
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