Tied up in court

9 Jul 2024 · 1 min

Watch on YouTube

0:38

In this short advisory monologue, Jerry Taylor explains why homeowners should transfer their property into a revocable living trust by recording a deed that changes ownership from the individual to the trust. He states that once the deed is filed, the home can be sold or conveyed to heirs immediately after the owner’s death, avoiding the typical nine‑month‑to‑year probate delay that occurs when the home remains in the owner’s name. Taylor also addresses a common concern that a mortgage lender might demand immediate repayment when a property is placed in a trust, noting that federal law prohibits lenders from accelerating the loan in this situation. He concludes with three concrete action items: (1) create a trust, (2) transfer the home and other assets into the trust, and (3) follow a link to his newsletter for further guidance.

Chapters

When you have put your home in your trust, when you've actually filed a deed changing the name of the owner from your name to the name of your trust, your home can be immediately sold when you're gone. It could also be immediately conveyed to your kids or your heirs. If you don't do that and you die with your home in your name, it could be 9 months to a year or longer before your home could be sold. People get concerned that if they put their home in a trust, their mortgage company will call their note due. There's federal law that prevents that from happening. Here's your action items. One, create a trust. Two, put your home and everything else you have in it. Three, click on my picture and my link for my newsletter.