I am doing my Grandpa's estate. I am the successor trustee on his trust. The only thing left to distribute is his house. It needs to be sold and the proceeds distributed to his trust's beneficiaries. Wells Fargo bank was the trustee, but subsequently declined to act as such. I am the successor trustee. The house - I have a "warranty deed" that lists the owner of the house as "Wells Fargo Bank, Trustee of the Riley G. Clark Trust..."Since Wells Fargo declined to act as trustee, and since I am the successor trustee, is is an absolute necessity for me to go to a title company and record the change on the warranty deed (trustee succession) before I begin the process of selling the house?
State/Country relating to question: Utah
Wells Fargo and the Utah County Recorder's office pointed me to go to a Title Company to "file trustee succession." I am hoping this is unnecessary since we are going to be selling the house anyway, and I can prove trustee succession at the time of the sale- is that right?
You do need to get the appointment of successor trustee noted on the warranty deed to give you the authority to sell the house because if not, only Wells Fargo could act on behalf of the estate for that deed. It is something that may seem insignificant to you, but it will not be insignificant to any buyers or future lender to those buyers.
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