Estate Law Questions? Ask an Estate Lawyer.
Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.
A trust and an estate are two completely different legal entities with regard to which owns a particular asset.
This is determined by who is the legal record owner on the deed. If it is the trust, then the trustee has to sign on any sales documents and the deed and they would receive the proceeds from the sale to put back into the trust. The trustee would then distribute the assets according to the directives in the trust.
If the property deed was in the name of the deceased, it is part of their estate and any executor would be the one to sell it with the proceeds going into the estate to be distributed according to the terms of the will.
So it is a pretty simple process..
Ok, the only way the proceeds would go into the estate is if the trust actually stated that that is where they were to go. Otherwise, they go into the trust in care of the trustee..
The title company shouldn't be determining where the proceeds go anyway.. They should just conduct a closing, and then hand a check for the proceeds over to the trustee who would have had to have signed the deed at closing to finalize the sale..
As an aside, I used to be a closing attorney for 4 different lenders..
And you are very welcome. Happy to help any time..