Legal Question in Wills and Trusts in Florida
If two people purchase a condo and person number one buys out person number two's share, can person number two simply state in his Trust, that in case of his death, he nor any of his relatives, has any claim to the condo property? Would this legally protect person number one from any claims to the property?
2 Answers from Attorneys
Person number two needs to do an amendment to his Trust that he no longer owns an interest in the condo and remove that clause from his trust.
First, ownership of the condo would be controled by any recorded deeds. Presumably the condo is in the name of personal #1 and the trust of person #2. Then the Trustee of person #2's trust needs to sign a deed conveying out the ownership.
Whether or not you need an amendment depends upon what the Trust does or does not say. It may not need to be amended, but the Schedule A documenting the assets should be modified to reflect an updated Inventory.
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