Are You the Successor Trustee of a Florida Property You Inherited?

Often times when a person wishes to leave a

property to a specific relative, they will form a Trust.  Having a Trust you can leave the property to whomever you choose by naming them the Successor Trustee.  The successor trustee only gains power of the trust when the previous trustee is incapacitated or upon their death. Should you be the successor trustee and the current trustee has a diminished mental capacity or physical condition that is preventing them from performing as trustee, I suggest you seek advice of an attorney as to how to proceed in becoming the trustee.

The trust will state that someone is to be the successor trustee and will be responsible for the trust and all it contains. In the case of real estate, the trust must state the power to sell or transfer title and you will need to furnish your real estate professional and attorney or title agent with a copy of the trust not only to be reviewed but the trust will need to be recorded with the new deed of ownership at time of sale.   

If you are the successor trustee here are a few things you can do to make the title work and your transfer of ownership easier and more smooth.

1- Have a copy of the trust before calling a real estate professional to sell the property.

2- Consult your attorney regarding any affidavits or legal requirements you may need to fulfill.

3- If you are the trustee due to a death, you will need a copy of the previous trustees death certificate.

I urge you to consult your attorney first with any questions or matters regarding your trust.  Not all trusts are written the same and you need to know what your powers are as stated within the trust.  I am not an attorney and my knowledge of trusts is limited to how they are involved in a real estate transaction in the state of Florida only.