How do I sell a house when I am the mortgage holder but my family trust is the deed holder?

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How do I sell a house when I am the mortgage holder but my family trust is the deed holder?

I bought a house in behalf of my family, with myself as the sole mortgage holder. During the time that we were having our family trust set up, I signed the deed over to the trust, of which my father is 100% owner. I am not interested in this commitment any longer and I don’t know how to go about selling the house to get out from under it, when I know they will not cooperate. The house is a very sellable house and there is equity. None of which I am really interested in. I just want my name cleared of the financial obligations, so I may move forward in my own direction.

Asked on April 23, 2012 under Real Estate Law, California

Answers:

Hong Shen / Roberts Law Group

Answered 9 years ago | Contributor

It'll depend on how the trust was written. If it is a revocable trust, you can just revoke it by notifying your father to cease all activities of the trust. If it is an irrevocable trust, then you will have to have consent of the trustee, your father, and the beneficiaries of the trust.


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