As the trustee of my father’s estate, how can I dispose of property to get it out of the Trust?
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As the trustee of my father’s estate, how can I dispose of property to get it out of the Trust?
My father owned property in his Trust that is out of state and in an association that collects an annual fee. The property has little if no value and the expense of trying to sell it is more than it’s worth.
Asked on June 10, 2013 under Estate Planning, California
Answers:
Nathan Wagner / Law Office of Nathan Wagner
Answered 10 years ago | Contributor
As trustee of your father's trust, you have authority to sell or otherwise dispose of the property. You could start by looking at the homeowner's association agreement to see if the trust can surrender the property to the homeowner's association. If it can't surrender it, the trust may have to try to sell it or dispose of it by gift (if anyone will accept the gift). It would be a good idea to get all of the beneficiaries to consent in writing to any disposition of the property in a way that does not generate a return.
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