Land in Irrevocable Trust / House Issue

[Sally Hill]

Jurisdiction

New Mexico

My husband purchased a mobile home and placed it on my father's property with his permission. We were told the property was in an irrevocable trust with myself, my brother and sister being the 3 beneficiaries. We were not too concerned at the time and my father told me that at any time we wanted to sell the house, he would cut out that piece of land for us so that we could sell it.

Due to financial reasons, my father and his wife now wants to sell the property. It has become unclear if the property is or ever was in an irrevocable trust. I'm curious as to what my husband's options are with regards to the house we have sitting on the property. The home is in his name, not mine, although the home is for both our enjoyment while visiting my parents.

Is my father's offer to cut out the land for us a binding verbal contract? If so, how does the property possibly being in an irrevocable trust affect that contract?

If the land is not in a trust and he sells it, what are my husband's options in recouping the cost of the home that he holds the title to? Can my father sell the home with the property although he doesn't own the home? The mobile home was remodeled in such a way is it can never be moved at this point.

Is there any way I can find out the disposition of the property and who actually is the trustee or the owner?

 

[army judge]

If you want to know who or what owns real estate in ny state, head on down to your county building and ask the county recorder, county clerk, recorder of deeds, or whatever its called in New Mexico.

In many US counties these days, you do such a deed or title search online, right from the comfort of your home.

Google, Bing, or Yahoo "County recorder of deed, YOUR COUNTY, NM" to see if your county allows such searches.

The law requires every transaction regarding real estate to be reduced to writing and in contract form.
Why?
The statute of frauds, an old English common law concept that has been refined over the years to prevent fraudulent real estate deals, cons, scams, frauds, and tricks.

Read about it:

Statute of Frauds

Your father's alleged promise is meaningless, unless and until he deeds you the land.
If he sells the land, your trailer becomes an appurtenance to the land, and purchaser owns it, as he or she does every rock, tree, or any other building on the property.

You do have a choice. Simply remove the trailer, if you don't wish to risk losing it when the property is sold, or perhaps bequeathed one day.

 

[Sally Hill]

Thank you for the response. Unfortunately you told me what I already suspected.

The county is so small there are no online searches available. I think I'll call and see if the clerk can help me out.

The land is not yet listed for sale, but I suppose if and when he does try to sell it, we will try and sell the house and let someone else figure out how to move it.

I'm still hoping that the property has already been transferred into the trust, if so I think I'm fine to wait it out as it's my understanding from reading multiple sources that he has to have the agreement of the trustee and all beneficiaries to sell, and once sold the proceeds remain in the trust, unless everyone is in agreement otherwise or to dissolve the trust.

I don't get why people do this to families. It just creates hard feelings and lots of problems, because there will almost never be agreement between siblings.

Thank you for your time.

 

[Sally Hill]

In that you closed my other thread, I'll respond here.

Thank you for your response! While I detected a slight exasperation on your part in answering, you gave a piece of information that had yet been unavailable to me anywhere else. If it might help someone else in their quest, then I think these 2 threads are beneficial.

I had been unable to ascertain that I would have received notice of being the beneficiary of a trust. I've read tons of information about irrevocable trusts and perhaps I had read that beneficiaries are notified and it went over my head or was oddly worded - nonetheless, that piece of information at least told me that I probably was NOT listed as a beneficiary since I was never notified of such. Of course, unless there is some loophole or exclusion by which Beneficiaries don't have to be formally notified.

Sometimes knowing what didn't happen is as important as knowing what did or will happen!

I wished I could find a really indepth and detailed explanation of irrevocable trusts in terms of someone having limited information with instructions or hints on how to find out things when everyone involved is being close lipped! Every article I read presumes full and complete knowledge of the trust and fully and complete cooperation by the trustee and full and complete disclosure of the beneficiaries......which I'm sure is rarely the case!

And while I appreciate the link you provided, my father is still alive and probate is not relevant at this stage. He is in bad health, but far from deceased and likely won't pass for many years - but that doesn't help me in the here and now with changes occurring to his Trust and with regards to my husband's asset sitting on the property owned by the Trust.

Again, thank you for your time and I'm happy for you to close this thread as well.

 

[army judge]

In that you closed my other thread, I'll respond here.

Thank you for your response! While I detected a slight exasperation on your part in answering, you gave a piece of information that had yet been unavailable to me anywhere else. If it might help someone else in their quest, then I think these 2 threads are beneficial.

I had been unable to ascertain that I would have received notice of being the beneficiary of a trust. I've read tons of information about irrevocable trusts and perhaps I had read that beneficiaries are notified and it went over my head or was oddly worded - nonetheless, that piece of information at least told me that I probably was NOT listed as a beneficiary since I was never notified of such. Of course, unless there is some loophole or exclusion by which Beneficiaries don't have to be formally notified.

Sometimes knowing what didn't happen is as important as knowing what did or will happen!

I wished I could find a really indepth and detailed explanation of irrevocable trusts in terms of someone having limited information with instructions or hints on how to find out things when everyone involved is being close lipped! Every article I read presumes full and complete knowledge of the trust and fully and complete cooperation by the trustee and full and complete disclosure of the beneficiaries......which I'm sure is rarely the case!

And while I appreciate the link you provided, my father is still alive and probate is not relevant at this stage. He is in bad health, but far from deceased and likely won't pass for many years - but that doesn't help me in the here and now with changes occurring to his Trust and with regards to my husband's asset sitting on the property owned by the Trust.

Again, thank you for your time and I'm happy for you to close this thread as well.

Online legal discussion sites are limited in what can be done.
Some sites offer more detail, but you can't rely on it, because it can't thoroughly understand and depict your potential remedies or solutions.

Compare what can be done here to trying to discuss a very complex subject via Twitter, FaceBook, or by text message.

This medium is meant to offer some guidance, some direction, and maybe general definitions and explanations of processes and procedures relative to legal issues.

Now think about an online site that discusses medical issues. Those sites get people to understand some symptoms relative to possible diseases or illnesses. The user then should seek medical care from a DO or MD, maybe other practitioners working under the auspices of the MD or DO.

If a trust existed, and you were a named beneficiary, you'd have been informed.

If the trust exists, it won't ever be probated.

In fact, many beneficiaries of certain trusts receive their largesse while the grantor is still alive. Of course, others receive the "stuff" upon the death of the grantor, it all depends on how the trust was created.

This is what you would have received, had you been a named beneficiary of any trust:

Required Notification by Trustee to Beneficiaries - First Step | Stimmel Stimmel and Smith

Wills and Trusts | Stimmel Stimmel and Smith

There are many other great articles all over the web.

Oops, almost forgot to add: If I had to guess, you aren't named in the trust, or the trust doesn't exist. More than likely there is a will, and the grantor has confused a "will", a "living will" with a "trust".

Before you ask, most people don't know if they are named in a will until its probated or revealed in some other manner by the attorney of the deceased.

Why? Well, if you were named today in a will, the testator could change the will overnight and your once $2,000,000 inheritance could now belong to Mr. Tabby, his beloved cat.