Deed Info
I inherited a home. Since I was underage when I inherited it, my godfather was the fiduciary and it was held in a trust until I turned 21.
I want to refi the house but am not sure that the title paperwork is in order. The estate attorney says everything is done. I checked the deed books and the last recording says.
XXXX (my godfather) IN TRUST NEVERTHELESS for the benefit of XXXXX (my name) of XXXX(my address) grandson of said decesed, a full interest in and to, as per ARTICLE FIVE of the Will.
All that certain piece or parcel of land, together with all the buildings and improvements theron, situated in the City of XXXX, County of Fairfield, known as XXX (the property address) and bounded and described as follows.
Then the descrption of the lot boundries follows.
Now I also have a paper from probate that says
the fiduciary has filed the final account for the following reasons, XXXX(my name) has reached the age of 21 as per the WILL of XXXX(my grandmother)
Where fore it is ordered and decreed that said final account be hereby is allowed and approved and shall be recorded and filed.
The rest residue and remainder if any of said estate or trust is to be distributed, transferred and paid by the fiduciary thereof in accordance with the filings of the court as indicated above.
I currently make all payments on the note which is in my name and my godfathers and allthe utilities and I collect the rents. My godfather did this for years but then it was transferred to me.
I was thinking of having some sort of deed written up but am not sure if it is needed. Any advice is appreciated.
What exactly are you trying to do? Forgive me...but I am confused.
housebuyer,
This is much simpler than you think. Just refinance. The lender and the title company will be paid handsomely, and it is their job to straighten out any title problems associated with securing their lien. They will advise you if any tidying up of the deed records need to be done. They will prepare and file any needed documents, but It sounds like everything is already in order.
I want to refinance the house b/c the note is only like $30k and the house will appraise at about $300k. I want to make sure that all is in order so I dont run into problems when doing the refi. I need to pull out some cash to invest in other properties
I am currently purchasing 2 other SFR for rehab and we will be closing on all 3 loans at or around the same time.
Who will be best to advise me about the deed issue or non-issue? My attorney?