If the Inland Empire or High Desert house you inherited is held in a trust, you will need to work with the trustee to sell it. For the most part, selling a house held in a trust is not much different from selling a house that you own outright.
The sale of an inherited house in a trust can be accomplished in one of two ways. The first method is for the trustee to conduct the sale of the property; the proceeds then become assets of the trust. Another option is for the trustee to transfer title of the property to your name so that you can sell the property yourself.
Selling the Inland Empire or High Desert House Held in a Trust via a Trustee
Review the trust documents to verify that the trustee has the power to sell the property. Typically, a provision granting the trustee the power to sell will be included in the trust document. If no power is explicitly granted, most courts will agree that the power is implied unless stated otherwise within the trust document.
Direct the trustee to hire an Inland Empire or High Desert probate real estate expert, like me, who will list the house for sale. The real estate agent will need to see the trust documents to confirm that the house can be sold and that the trustee is authorized to conduct the sale.
The probate real estate expert will then provide a copy of the trust to the title company to validate that the trustee is identified as such by the trust document. In addition to the trust document, the title company may also require a Certification of Trust signed by the trust attorney, a death certificate of the trust creator, and a tax ID number.
The final step is the closing of the purchase agreement with the buyer. This requires the signature of the trustee. Funds from the sale become assets of the trust, which the trustee can then distribute to you or leave in the trust account for safekeeping.
Selling the Inland Empire or High Desert Houses Without the Trustee.
Review the trust documents to ensure that no provisions exist that prevent the trustee from transferring title of the property to your name. If no restrictions exist, the trustee has the discretionary power to transfer the asset to the beneficiary.
Request that the trustee transfer title of the property to your name. While the trustee has the power to do so, the trustee is not required to. It is up to the trustee to determine the next course of action for the trust.
Transfer the deed of trust for the Inland Empire or High Desert property into your name. This step requires the cooperation of the trustee. The trustee must prepare a deed form that transfers the property from the trust to your name. The trustee files the completed deed with the local property office to make it official.