I had a joint trust, but I have been divorced for 4 years. This trust should be obsolete, inactive, revoked due to divorce, but it seems to be a problem now that I am refinancing my house. Is it revoked or do I need to do something?
3 Answers from Attorneys
Legally, the trust is void. However, your house appears to have been transferred to the trust and the trust is the owner of the house. You will need to remover the property from the trust to your name by recording a quit claim deed from you as trustee to you as the grantee.
You need to look at the terms of the trust to see how it can be revoked. Typically, getting divorced does not automatically revoke a revocable trust and you need to actually sign a revocation. Your marital settlement agreement have a provision which revokes the trust.
Mr. Jordan is correct that you (and your ex-spouse if they were also named a co-trustee on the deed transferring the property to the trust) will need to execute and record a quitclaim deed taking title out of the trust back to how title was originally held before it went into the trust.
I agree with other counsel. The title company is indicating your trust owns the home, not you. Read the trust carefully to determine what you need to do to get title properly transferred. Your dissolution counsel (if any) should have done this. Once you get title properly in your name, see an estate planning attorney and either sign a new will or create a new trust to get your estate planning in order.
Related Questions & Answers
My mother just passed away on July 3, 2013. Me & my older sister Kaila were here... Asked 7/22/13, 9:18 am in United States California Probate, Trusts, Wills & Estates
My wife and her sisters are co-trustees on their Mother's trust in Calif. The Mother... Asked 7/22/13, 9:09 am in United States California Probate, Trusts, Wills & Estates
My grammal gave power of attony to the church put her in a home where we couldent... Asked 7/21/13, 10:47 pm in United States California Probate, Trusts, Wills & Estates
A physician declared under penalty of perjury under the laws of the State of... Asked 7/20/13, 4:10 pm in United States California Probate, Trusts, Wills & Estates
Is is mandatory to file my executed, witnessed and notarized Power of Attorney with... Asked 7/19/13, 2:30 pm in United States California Probate, Trusts, Wills & Estates