Deed - Landlord Forum thread 323006

Deed by Steven (NY) on August 18, 2014 @08:08

The NY house is owned by a trust from my grandparents who are deceased. The deed is in my grandparents names. If I decide to sell this 2 family house will I have a problem? I am the trustee or what ever it is called.
I reside in one apartment and trying to rent the other apartment again and having trouble. Taxes and insurances to high here and all repairs for rental apartment and the work not sure I really want to continue this.
Thanks for taking this question. Steven

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Re: Deed by Rory on August 18, 2014 @09:46	[ Reply ]

You are the trustee. You are the boss. You should have an attorney to consult with in this process.

Re: Deed by Anonymous on August 18, 2014 @10:53	[ Reply ]

Not really a landlord question or issue. Also, to little information for a detailed response. Are you the trustee, the beneficiary, or are you the executor? Whatever it is called matters. You need legal advice, not landlord advice.

Re: Deed by Anonymous on August 18, 2014 @11:41	[ Reply ]

If the house is owned by the trust, the deed will show the name of the trust, or the names of the trustees and the designation "Trustee", as Grantee. If the deed names your grandparents but does not identify them as Trustees, then the property is owned by them individually, not by the trust. The trustee (you) can only see what you have (property actually deeded to the trust). Otherwise, if the property is really in the grandparents names, you will have to probate the property in order to inherit it and then sell it.

Re: Deed