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socrateaser, Lawyer
Category: Real Estate Law
Satisfied Customers: 39145
Experience:  Attorney and Real Estate broker -- Retired (mostly)
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How do I cancel out a trust on a deed Read more: http://www.justanswe

Customer Question

How do I cancel out a trust on a deed
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  socrateaser replied 2 years ago.
Hello, Your terminology is nonstandard. Can you please explain a bit more about what you're trying to accomplish? Thanks in advance.
Customer: replied 2 years ago.
My husband and I are trying to get a loan on the house. In order to do that the title has to be free and clear. I get that, the issue is the vesting on the title reads 'Fred Mays and Florence C Mays, Trustees of the Mays Family Trust, Dated April 29, 1992'. These were my great grandparents; Florence then a Power of Attorney in March 2003 and then a special warranty deed in May 2003 to Faye Busby, my grandmother. She signed a quit claim deed over to my husband and I in 2013. Somehow or another my great grandparents, who are both deceased, still show to be on the trustee title. Also, Faye said there never was a trust, my grandparents were told they needed to have one, so they went to an attorney (with Faye in tow) and he told them they didn't have enough money or assets for a trust, they wanted one anyway, but did not have the $10 to pay for the trust, so Faye had to pay for it. Faye is still alive. I have no idea what I need to do to get this sorted out.
Customer: replied 2 years ago.
That should read Florence SIGNED a power of attorney and so forth
Expert:  socrateaser replied 2 years ago.
Have you had a title company obtain a preliminary title report? And, is it the lender or the title company -- or both that are requiring you to clean up title on the property?
Customer: replied 2 years ago.
I did not get a phone call from you and I need to figure out what to do asap. It is the title company that wants the deed to be in our name. It is for tax purposes but apparently not otherwise
Expert:  socrateaser replied 2 years ago.
Hello, again. Apparently there was some system error, because I never received any request for a phone consultation. In order to determine the necessary procedures, I need to review the various deeds, and the power of attorney about which you previously referred. Your project is considerably more complicated than the typical Justanswer question. I understand that you may have come to this website seeking an extremely low-cost means of resolving your dilemma -- however, whether it's me or some other attorney that handles this matter for you, it will likely cost you between $500-$1,500 in legal expenses. If you would like me to assist, I will send you an additional services request. You can accept or decliene at your convenience. I entirely understand if you choose to seek legal representation in a more traditional manner. Thanks in advance for your patience.
Customer: replied 2 years ago.
So how do I get a refund, because my card was charged $52 for the phone call
Expert:  socrateaser replied 2 years ago.
Hello again,
I sent your cancellation request to customer service. Please let me know if you need further assistance. And, thanks for using Justanswer!