Legal Question in Real Estate Law in Florida
My family trust includes a house, which is owned outright. My mother and I are the trustees and are looking into transferring the title from the trust into my name. My question is how do we go about this? Also, what are the pro/cons of transferring the ownership versus leaving it in the trust?
3 Answers from Attorneys
In order to transfer the property into your name, a deed must be prepared conveying the property. The pros and cons depend upon what it is that you are attempting to accomplish by transferring the title. It requires consulting with an attorney for at least 20-30 minutes.
The simple answer is to convey the property via a deed. The more difficult question is whether the trust allows this.
As to pros and cons, it depends upon the objectives of the trust and alternatives to it. For this you really need an attorney to sit down with the Trustees to figure this out.
This is not a "do-it-yourself" task. Hire a lawyer who is knowlegeable in wills/trusts/estates.
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