Legal Question in Wills and Trusts in California
Living Trust - Property change
I have Revocable Living Trust dated 11/10/2005.
I sold my condo in February 2007 and bought a new one.
The old condo is still listed under Schedule A of the Trust.
Is it okay to do a deed transfer of the new condo to the Trust and change Schedule A?
Do I need to do anything else?
Asked on 11/11/08, 11:01 am
1 Answer from Attorneys
Phillip Lemmons, Esq.
Phillip Lemmons APC, Attorneys at Law
Re: Living Trust - Property change
Well I can't comment regarding your specific trust and assets (as I haven't reviewed the case), but in general trustees have the authority to transfer assets in and out of trusts. They can usually do that by changing their Schedule A (by declaration) or by transfer deeds. I hope this helps.
Answered on 11/11/08, 1:32 pm
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