Legal Question in Wills and Trusts in California
I co-own a property with three others. One of the ownerships is in trust. I am co-trustee and want to take that ownership out of trust. To all the people on the deed need to sign a grant deed or transfer deed and re-deed the property, or just the co-trusttes?
2 Answers from Attorneys
The Trustees, as tenants in common, may transfer their interest in the property out of the trust without the signatures of the other tenants in common.
This answer assumes that Mr. Cusack misread your question, as I am reading it differently. You co-own property with three others. It's not clear whether you are tenants in common or a joint tenancy. One of the ownership interest is in a trust. You have an ownership, and you are also co-trustee of the trust, which has an ownership interest in the same property. You want to transfer the trust ownership out of trust.
Assuming that you have the authority under the trust, both co-trustees must execute the deed as grantors, out to whoever the grantee is. If the scenario is different than the way that I have set forth above, please feel free to contact me.