How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Dave Kennett Your Own Question
Dave Kennett
Dave Kennett, Lawyer (JD)
Category: Legal
Satisfied Customers: 27689
Experience:  25 years experience in general law, including real estate, criminal, traffic, and domestic relations
Type Your Legal Question Here...
Dave Kennett is online now
A new question is answered every 9 seconds

trust asset is mothers home. she listed home for sale ...

Resolved Question:

trust asset is mother''s home. she listed home for sale prior to her death--prior to any knowledge of medical problem-- her intention was to negate the trust by selling the asset---house sale closed after her passing--do the proceeds from the sale of the house still belong to the trust?
Submitted: 9 years ago.
Category: Legal
Expert:  Dave Kennett replied 9 years ago.

DearCustomer- If the trust still owned the property and had not been dissolved then the proceeds would go to the trust as seller of the property. I would assume the deed was signed by the trustee and that the deed was in the name of the trust at the time of sale. The mere sale of a trust asset does not dissolve the trust but the asset makeup changes from real estate to cash.

David Kennett - JD - Attorney at Law

Dave Kennett and 5 other Legal Specialists are ready to help you

Related Legal Questions