Deed of Trust

Posts Tagged ‘trust deed meaning’

Question: If I receive a property tax bill in my name does that mean i own the property?

My mom passed away and my uncle filed her will in probate court, In her will she willed her home to me. Shortly after, I started receiving a tax bill for the home she willed to me, because of this I assumed that the house was mines. I had durable power of attorney before my mom passed away so I was paying her bills. one of thoes bills was a Deed of Trust on that house that was willed to me. So out of habit I continued to pay the loan on that house not knowing that the bank needed to be notified of her passing. This i've done for a number of years. So where do I go from here? Please help, thanks!

Answer: Yes you own the property being named as a beneficiary on the Deed of Trust. The lender does in fact need to be notified and will either give you a demand notice (forcing you to refinance the house in your name), but more likely will simply add you to the existing mortgage. Just tell them the truth.

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