Legal Question in Real Estate Law in New York
Living Trust
My grandmother signed over her home to my mother. My grandmother has been in a home for four years and is very unaware of her ''life.'' If there is a trust, can my mother sell that house? I heard that she could as long as my grandmother was NOT living in the home. Thank you for your kind attention to my question.
2 Answers from Attorneys
Re: Living Trust
It depends on what you mean by "signed over." If your grandmother gave your mother complete ownership of the house, then yes, your mother can sell it.
If, however, your grandmother put the house in a trust with your mother as a beneficiary, then no, your mother cannot sell the house. Only the trustee of the trust would be able to sell the house.
If you would like to discuss this further, please call my office at 845-362-0387.
Re: Living Trust
If the signing over was simply a deed without
restrictions, then your mother may deal
with the property without restriction or
need for accounting. This would include
medicaid applications, because the transfer
is longer than 3 years old
If a life estate was kept in the deed, the
sale of the property only occurs with the
consent of the life use individual, regardless
of whether they are exercising such right
If there is a formal trust document in
connection with the transfer, then the
provisions of the trust document would
control, which could be very different
from the general rules.
Have an attorney review the documents