Mark W. Bidwell

Trust, probate and will attorney and lawyer in Huntington Beach, CA

Successor Trustee, to Sell or Distribute California Real Property

The successor trustee must review the trust for instructions on what to do with the real property. Most often the decedent directs one of two actions; either transfer ownership or sell the real property and transfer the sale proceeds to the beneficiaries of the trust. Ownership transfer is by deed.

The deed is signed by the successor trustee on behalf the trust. Ownership is changed from the trust to the beneficiaries of the trust. The deed is submitted to the County Recorder to update the database of rightful owners. If the beneficiaries are children of the decedent, the deed must be followed up with a “Parent to Child Property Tax Reassessment Exclusion for California Property Tax” to prevent an increase in property taxes, learn more about the legal process here.

If the trust directs sale of the real property, the Successor Trustee has authority to sell with the affidavit death of trustee submitted to the county recorder.  Sale proceeds are deposited into a trust account and checks are issued to the beneficiaries. If needed, the successor trustee holds back enough funds to pay outstanding debts, funeral costs and costs to administer the trust.

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