Legal Question in Wills and Trusts in California
I loaned money to my parents Trust after they passed away to help pay the bills because there wasn't any cash to take care the bills. I am the trustee of the Trust and there are several real property assets, just no immediate cash flow. In the terms of the Declaration of Trust, it does state that a Trustee will have a lien on trust property for any loans made to the trust by the trustee. How do I get the lien?
3 Answers from Attorneys
Just prepare a document stating what happened and that under the cited terms of the Trust you are entitled to a claim and reimbursement from the Trust. Then as Trust notify all interested parties of the claim and that you intend to grant it.
I agree- a formal, recorded lien doesn't seem necessary since you as Trustee are the only one with the legal right to sell the property.
Why would you need to lien property that you have control over?
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