Legal Question in Wills and Trusts in California
Sole Heir of an Income Trust
I leased a property to the the sole beneficiary of an income trust. Somehow, the sole trustee administering the Trust has not been paying out the proceeds of the trust to the beneficiary. How can I secure the amount of rent owed in the lease to the sole beneficiary of this trust?
2 Answers from Attorneys
Re: Sole Heir of an Income Trust
Explore having an assignment for rent. Contact me directly.
Re: Sole Heir of an Income Trust
The beneficiary should check the contents of the Trust as drafted. There should be provisions for a beneficiary to terminate the trustee if the trustee is failing in its fidutiary duty such as failing to pay income if income is in fact due and owing. If your contract/lease is with an individual (i.e. the beneficiary), your recourse is against that individual - not the trust. The beneficiary needs to follow up and proceed against the trustee. An attorney, such as myself, can discuss this further with you and/or the beneficiary.
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