Legal Question in Wills and Trusts in Michigan
If two people are named joint tenants with sole survivorship as trustees on a deed along with 5 other people named as joint tenants in common. But the trust does not have a dissolution date. Are the trustees one seventh owners of the property?
1 Answer from Attorneys
I would have to review the document, but generally if the deed names two people in their capacity as trustees, they do not own it, the trust does with the others that are named individually. There is a law that prohibits property from being tied up forever, so it may apply in your situation depending upon the trust document. The Probate Court also has authority to amend trusts to comply with the intent of the settler/grantor. Please contact me if you would like to discuss this matter in more detail. John Tatone 586-580-8850
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