Legal Question in Wills and Trusts in California
Is there such a thing as deeding too soon?
The settlor passed away several months ago. She designated two beneficiaries, me being one, and my sister, the trustee, the other. Two properties are part of the trust. The property going to my sister generates Trust income in the form of rent. This income, like all trust assets is to be split equally, per the trust. The trustee informed me that settlement and distribution could be complete in June. She however already did the deed changes making me and her respective owners of these properties.
Because of this deeding, she is now saying that when distribution happens (June or so), that we will only share in the rental income up until the transfer of ownership in Jan. I thought I read somewhere that deed transfers should be one of the last things to happen; and I�m guessing to avoid this situation.
Because of this deeding, does she now have sole claim to this trust income? If not, please explain why. Is there some code or rule that offers guidance on when deeding should happen? Thank you!
1 Answer from Attorneys
Re: Is there such a thing as deeding too soon?
It depends if the deeds have been recorded.
Your sister may have only completed the Affidavit of Death of Trustee and recorded that. Maybe that is the deed you refer to?
If the actual grant deeds for the properties have been recorded and your name is on there, you own that property. If you own the property, you may be entitled to its income unless there are other agreements outstanding.
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.
