12-20-2015, 02:39 PM
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#1 (permalink)
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A True Z Fanatic
Join Date: May 2012
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Quote:
Originally Posted by Chuck33079
Here's the fear- if you dump a lot of money into repairs, and the ownership is legally challenged and you lose, was it worth fixing up the house? No matter how you feel, it's not yours until your name is on the title. Title first, then HELOC and repairs. Use whatever funds you can get together for the legal side. Estates can be nasty, litigious things and it would suck to fix the house right before it goes to some estranged relative with a better attorney.
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OP, Chuck has given you excellent advice. Earlier you mentioned "locked trust", I assume you mean its irrevocable without a beneficiary. Most likely, one of two things will happen depending on your state law.
It could revert back to the original grantor's estate (your grandfather's) or it could go into your Father's estate. The attorney you're speaking to, should know the answer to this. But it sounds like he doesn't, so if I were you, I'd get a different attorney that knows the answer. All states should have specific laws in regards to this.
I'm not going to jump on you for the asking of money. However, I will jump all over you, if you receive money, put it to the home and then not even end up with it!
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