Legal Question in Wills and Trusts in California
effect of due on sale clause to beneficiary of living trust
Prior to their deaths, my parents created a living trust and I was the only beneficiary. The major asset of the trust was their home.
I want to transfer the property to my name but have some concern about triggering an alienation clause. From what I've read about The Garn-St. Germain law, this would be a permitted transfer and a due-on-sale clause would not be enforceable.
Am I right about this?
1 Answer from Attorneys
Re: effect of due on sale clause to beneficiary of living trust
In most cases it can be passed to children without enforcement of the due-on-sale clause, but have an attorney review it to be sure. The attorney should also review the trust administration to be sure all the required notices/claims/exclusions have been filed within deadlines (for all the trust assets) as well.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
