Does a house owned by quitclaim deed still belong to a Trust?
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Does a house owned by quitclaim deed still belong to a Trust?
My mother signed a quitclaim deed 13 years ago which gave the house to her children. At the same time she set up a Trust. The house will now be sold. Who gets the proceeds of the sale – the owners of the house or the beneficiaries in the Trust?
Asked on November 18, 2011 under Estate Planning, New York
Answers:
Michael D. Siegel / Siegel & Siegel, P.C.
Answered 12 years ago | Contributor
The owner of the house. There are other complexities here, as title from the quitclaim deed might not be deemed good. If you are a trust beneficiary, and are trying to stop this sale, you must move ASAP in court to get a lien on the house. Once the closing happens, and the money is gone, there is much less you can do about it.
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