Legal Question in Wills and Trusts in California
Trust Sale
As a beneficiary of a trust with the right of refusal
to purchase a real estate property,
what would be the best strategy to compell an unfriendly
trust to put my name on the title of the property
in a situation where the bank tells me that I only qualify
for the purchase of the property if it is handled as refinancing and my name is on the title? Can the trust
refuse a request for grant deed to include my name on the title? Can any beneficiaries who are not trustees object?
1 Answer from Attorneys
Re: Trust Sale
There are a number of ways to accomplish what you want to accomplish. Which is to exercise your right (of first refusal) to purchase the real property from the trust. However, don't take the statements of one bank loan officer as gospel. Continue to shop the loan. There are other lenders out there. Any proposal that effects the trust and possibly effect the beneficiaries can be objected to by the beneficiaries. Depending on the terms of the trust. The successor trustee(s) may or may not have to pay attention to the objections of the beneficiaries, if any.
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