can my mom create a living trust if a child refuses to quit

emilie · Joined: 21 Apr 2008 Posts: 1 1.33 Dollars($)

my mother divorced my dad 18yrs ago and had to buy him out of the house. My mom needed someone to help her get a loan to pay off my dad. My sister and mom then took out a mortage to pay him off. My mom has made all the payments on the mortage including taxes and insurance. My mom still has a mortage but now wants my sister off the deed and would like to put her home into a trust with her name only. This will generate a new loan for my mom but she is willing to do so.

jameshogg · Posted: Mon Apr 21, 2008 10:02 pm Post subject: RE: sister not leaving property

Hi Emilie,

Welcome to forums.

You mean your sister isn't willing to take her name off? The new loan must be a refinance isn't it? Your sister must have her own reasons of not leaving the home. So, the only way out here as I see, is to buy her out or convince her to leave the property without any money transfer in between your mom and sister.

Thanks

adonis

It's not possible to create a living trust when one of the owners aren't ready to quit. May be your mom can make her one of the trust beneficiaries who'll receive some part of the property-interest after her death. Perhaps then she will agree and sign on the papers to take her name off the deed.

All times are GMT - 7 Hours

Page 1 of 1