Invalidating a deed of trust
If you and your siblings wish to surrender the property to the bank, they will probably be happy to accept a quitclaim from you.
In my opinion, they should bear the costs associated with the transfer - it's much cheaper and faster for them than foreclosure.
City of Alexandria, et al., seemed straightforward when it came to us, a nice referral from a friend who specializes in trusts and estates, a dispute that would be quickly cleared up by a simple Declaratory Judgment suit. Several years later, without revoking that trust or withdrawing the property, acting only in his individual capacity, he deeded the same property to another trust.
After three years of litigation and more than 0,000.00 in legal fees (for all parties), after a loss in the trial court, and then a successful trip to Richmond, we are talking about lessons to be remembered.
I fully realize that if the marriage had actually been legalized and filed, that it would not have had any validity due to the marriage.
But, similar to the point above, where, in a hurry, you might think boilerplate will be fine and nothing will ever occur that will make trouble for your client, you cannot take for granted those obvious principles of law.If you want to challenge a trust’s validity, you can’t also accept a distribution from that trust. Weigle Revocable Trust (unpublished), in Michigan, once you’ve filed suit, you can’t then try to give it back. Weigle executed a trust amendment in 2007 under which the petitioners – who were Weigle’s neighbors – were to receive a one-half interest in Weigle’s house and 72% of the balance of the trust assets while respondent – who was also Weigle’s neighbor – was to receive the remaining 19% of the trust’s assets. In fact, as the Michigan Court of Appeals recently determined in In re William W.Nine times out of ten, this document performs perfectly. The case of the two Duncan trusts shows why, despite that time crunch and the client's screaming about additional costs such as title searches, one needs to take one's time on the documents, and spend the money to do the title search.Otherwise, the client, through confusion, inadvertence, or forgetfulness (in our case, there were assertions of malicious intent, as well), might end up giving his or her property to someone unintended and/or sparking a costly legal battle.