Trust Property Repurchase

[atkinsge]

Marriott Hawaii week in Individuals Trust name. Individual dies. Successor trustee wants to sell (repurchase) week to Marriott. Questions:

You don't have to change the deed to the successor trustee name, do you? It's still Trust property.

Week was exchanged for points for 2016, Marriott says can't repurchase week until 2017.

Marriott's repurchase in line with Tug Ads…but trust/deed seems to confuse the issue. What would be best way to approach Marriott?

Thank you.

 

[vacationtime1]

Marriott Hawaii week in Individuals Trust name. Individual dies. Successor trustee wants to sell (repurchase) week to Marriott. . . . What would be best way to approach Marriott?

A copy of the trust instrument and a copy of the death certificate should be sufficient to persuade Marriott that a successor trustee named in the original instrument is now empowered. You are correct in that no deed is necessary (how would the decedent sign the deed?).

You cannot control Marriott's decision about when/whether to purchase.But you can try to sell it yourself or through a broker while you are waiting.

 

[davidvel]

Marriott Hawaii week in Individuals Trust name. Individual dies. Successor trustee wants to sell (repurchase) week to Marriott. Questions:

You don't have to change the deed to the successor trustee name, do you? It's still Trust property.

Week was exchanged for points for 2016, Marriott says can't repurchase week until 2017.

Marriott's repurchase in line with Tug Ads…but trust/deed seems to confuse the issue. What would be best way to approach Marriott?

Thank you.

Generally, the Successor Trustee must file an affidavit of death of trustee in the county where the real estate is located. But, this should be readily known to an attorney assisting the Successor Trustee administer the trust. There are many other (often more important and time sensitive) steps to be taken than this. Given you are asking this question, I would strongly suggest the Successor Trustee seek competent legal help.