Legal Question in Wills and Trusts in Illinois
Deed in Trust
What is a deed in trust and what happens when the Grantor is decease. How is a deed in trust filed after a grantor is decease and what happens now?
Asked on 12/04/08, 4:46 pm
1 Answer from Attorneys
Zedrick Braden III
Ainsworth & Associates PC
Re: Deed in Trust
The deed in trust could be in connection with a land trust in which case the title holder will be a trust company. If the grantor is deceased, the terms of the trust take effect. It will be necessary to get a copy of the land trust agreement to determine the beneficiaries under the trust. The trustee of a deed in trust could also be a mortgage company which is holding the deed, until the mortgage company is paid in full. Will be happy to discuss this further and in more detail.
Answered on 12/04/08, 10:11 pm
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