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Continuity of obligation if house part of truste

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owen99 Guest	Posted: Thu May 27, 2010 8:20 pm    Post subject: Continuity of obligation if house part of truste Like 0 Dislike 0 I am successor trustee to my mother's trust. She passed away in Feb 2009. The home is in the trust and wholly owned w/o liens. The property is in California. I would like to remove the house from the trust, assume a small mortgage, and use the funds to pay off bequests. The mortgage and title would be be held by three siblings (beneficiaries) as tenants in common. Is there a requirement for continuity of obligation in this situation? Title seasoning? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Fri May 28, 2010 12:04 am    Post subject: Like 0 Dislike 0 Hi owen! Welcome to forums! As you will be inheriting the property from the trust, I don't think there would be a title seasoning required. I would suggest you to contact a real estate attorney and he will be the best to guide you in this matter. Feel free to ask if you've further queries. Sussane

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