Deed of Trust

Archive for March, 2011

Question: can I sue someone that was the executor of a will and failed to carry it out?

My mother died over 20 years ago when I was 16, leaving a family member as the executor of her estate. He failed to set up a trust for me, that I should have received when I turned 21. There is a house involved, and he will not send me the deed, and states his job is done, when he actually did not do anything. What can I do? I live in Indiana.

Answer: Generally speaking, wills don't require an executor, only trusts do. Did your mother leave instructions in her will that the named person was to set up a trust for you? If so, he was required to do it.

I don't know Indiana law, but surely there is some action you can take. If you can afford it, make an appointment with a lawyer who specializes in wills and trusts and estate law to find out where you stand legally.

Your uncle is a scumbag!

Banks Authority on AZ Property - Note & Deed of Trust State - Video 8

Question: Trust Deeds in Scotland... How can it help me?

I am writing this question holding back tears of desperation and frustration as I struggle to cope with my debt. I have around 5000 pounds worth of debt that I am trying to pay off using my small income after all my expenses but I have honestly reached mental breaking point. Even then, I am using my overdraft to pay some of my debts which is not helping my case at all. As I live in Scotland, I want to find out if I can use a Trust Deed to help me. Will I lose my home as the house is in me and my wife’s name if go the Trust Deed route? How does the Trust Deed actually work, and will it help me .We do not have joint accounts. We have 8 month old baby to look after as well. I got into debt because of my low salary and rising cost of living.

Answer: I really sympathise with you as i was in same boat. Now calm down, get to a citizens advice centre if you have one in Scotland ASAP. There are also debt advisory places that will set up a repayment scheme with your creditors. Do NOT enter an IVA agreement as they are a con which i found to more financial loss! As you appear to own your own house you could raise money that way by a loan on the property but if it all goes wrong you could face repossession which you don't want. I was lucky i rented so my house was safe. Do not consider bankruptcy as your house is an asset and can be seized. I hope this is of help to you. Good luck, cheer up. £5000 is not a huge amount you know and you should be able to clear it over time.

Trust Deed Scotland - Scottish Trust Deeds and Debt Advice

Question: can a house foreclose on an unpaid second Deed of Trust?

So the other day when I came home there was a letter on the door from "The Foreclosure Company" in camble california and it stated "you are in default under a Deed of Trust dated December 1,2008...." we immediately contacted the owner of the house and she said that she is in default on the second loan of the house but the first loan is up to date and to send her that letter so she can keep it for he/r records. She told us we had nothing to worry about my question is:
Can a house foreclose on an unpaid second Deed of Trust
and since we are renters what are out rights how can we find out if the house is really in foreclosure?
she has us send the rent checks directly to the bank she has the mortgagee with so that leads me to believe she is being honest with me. I may benaivee but please any helpful NON-RUDE answers would be kindlyappreciatedd.

Answer: The owner of that second Deed of Trust can in fact foreclose, even if the underlying first is current. This is not really that unusual. The foreclosure has in fact already started and if the present landlady does not pay up, she could actually lose the house to the holder of the second in about 4 months time. The next letter you get from the Foreclosure Co. if that default is not cured, is about 3 months after the recording of the default you listed above. It will read "Notice of Sale". By California law a tenant must be given at least 30 to 60 days to vacate the home after a trustee sale, if the the new owner does not want to keep you as a tenant. However, if you are on a lease AND that lease predates the date of recording on that Deed of Trust (Dec. 1, 2008), then your lease is valid to the end of your lease, even on a change of ownership.

Deed of Trust