Legal Question in Wills and Trusts in Arizona

Can I be on the Deed and also in the Trust of a home

My wife and I have recently moved into my mother-in-laws home as she is no longer able to take care of the home due to the size of it.

She is stating she was told, my wife and I could not be on the deed as she has set up a trust for the other siblings that includes a portion of the appraised value of the home prior to us moving in. Here in lies the problem we need to do some renovations to this home she does not have income and we can not get any loan on the equity of the home without being on the deed. Can we not be on the deed and also have the trust? The Value was $560k she has split that 3 ways between the 3 kids that is set in the trust My wife gets 1/3. We need to add rooms for my children and since she has no income she can not get a loan. We have the income but can't get a loan for home improvements without being on the deed. Any help with this would be greatly appreciated? She also has set in the trust that we get the house upon her passing and that the original amount the house apprised for prior to us moving in would be the amount split between all the kids.


Asked on 6/02/05, 10:25 am

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

Re: Can I be on the Deed and also in the Trust of a home

The easy answer to your question is Yes, IF your mother-in-law agrees and wants to achieve the same goals as you describe in your question. If the property is owned by a revocable trust ("living trust"), your mother-in-law can do anything she wants with the property. I am sure that if we all sat down together and agreed upon the terms and conditions that you all want to apply, in order to achieve your goals, I can show you how that can be accomplished.

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Answered on 6/02/05, 1:50 pm


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