What happens if real property was temporarily removed from a revocable living trust and one of the trustees dies before the property is placed back in?

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What happens if real property was temporarily removed from a revocable living trust and one of the trustees dies before the property is placed back in?

My husband is terminally ill and we have a revocable trust that placed our home in the trust as community property. I have power of attorney for my husband’s finances. In order to refinance to a fixed rate loan the title company required us to prepare a grant deed that granted the property to us as joint tenants. The intent is to put it back in the trust after closing escrow. What happens if my husband dies before placing the property back in the trust?

Asked on April 9, 2012 under Estate Planning, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If your husband passes before the property is placed back in the trust that it was taken out of, his presumed "pour over Will" should pick up this property's omission from the trust and return it.

To be safe, I suggest that you simply have an attorney draft up another grant deed of the property back to the trust and you and your husband sign the deed before the notary. You can then hold onto the deed and not record it until after the refinance. If he dies before the refinance is concluded, you can still record this new grant deed to the trust after his passing. It is still a legal document.


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