Deed to trustee, but no trust named (?) - Posted by JD

Posted by Bud Branstetter on July 18, 2001 at 21:40:42:

Because he is owner, as trustee, the judgement does not attach. I would suspect that in most states the name of the trust does not have to be mentioned but it sure is easier to keep track of if you are trustee for several properties.

Deed to trustee, but no trust named (?) - Posted by JD

Posted by JD on July 18, 2001 at 12:16:21:

I came across the following wording in a Warrenty Deed recently: Acme Holding Co. (Grantor) hereby convevys to John B. Doe as Trustee (Grantee) the following Real …

–No Trust is named just a Trustee of an unnamed Trust. The named Trustee (John B. Doe) subsequently had a large judgment recorded against him. Does the judgment attach to the property?

Depends - Posted by Randy McKee

Posted by Randy McKee on July 19, 2001 at 09:34:23:

If John B. Doe is the settlor, trustee and beneficiary of a revocable trust, the judgement can attach to the property.

In a revocable trust, there is no asset protection provided if the settlor (the person who makes the trust and puts assets into the trust) is also the trustee or in any other way has power of appointment over the assets in the trust.

ON THE OTHER HAND

If John B. Doe is Trustee of an irrevocable trust in which he is not a current or remainder beneficiary, it would be almost impossible to make that judgement attach to the property.

If you can give me more details, I can give you more precise information.

Best of SUCCESS!

Randy McKee, CEP

Re: Deed to trustee, but no trust named (?) - Posted by Paul_MA

Posted by Paul_MA on July 18, 2001 at 16:18:47:

In my state, the deed has to reference the trust. You should show it to an attorney experienced in Trusts. Post this question to Bill Bronchicks site.

As to the second question, the judgement will not attach to the property. John B. Doe is not the owner of the property.