Legal Question in Wills and Trusts in California
Adding/deleting property to a trust?
I have a Revocable Living Trust for a vacation home out
of state. My sister is the successor trustee. I have since
sold that vacation home and purchased another one, in
the same state. During the process of the sale, the
original vacation property was taken out of the trust by
the Title, Escrow, and 1031 Exchange company for me.
I believe I can do this Amendment myself if I know the
words to us in the Amendment, and get it notorized.
How do I amend the Trust to indicate the legal
description of the new property? How do I make sure
the new property is included in the Trust. Do I have to
include the removal of the first property in the
amendment Thank you!
2 Answers from Attorneys
Re: Adding/deleting property to a trust?
An amendment should be executed with the same formalities as the original trust, i.e. notary and two witnesses.
One could state that paragraph 3.X (if that's the case) is hereby amended in full to read as follows: Vacation Property 1 is deleted; Vacation Property 2 is transferred, give the description, etc. Then you have to execute a transfer of property, the grant deed in favor of the trust, the notice to the county assessor, record it, etc. It's a lot of work for which you should probably pay an attorney to do right. My maxim is, when it comes to real estate, you don't want to mess around.
Re: Adding/deleting property to a trust?
Instruction on amendments should be in the trust. Yes it must be notarized and start fresh with a new appendix. Call me directly for a free consultation 6192223504.
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