What is my my legal claim to property that’s been quit claim deed to a trust of which I am not a beneficiary?
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What is my my legal claim to property that’s been quit claim deed to a trust of which I am not a beneficiary?
My father bought a porperty 12 years ago from an estate. It was originally set up at the deeds office as titled to his limited partnership, for and during his natural life and upon death in simple fee to me, as grantee. However, 8 years ago he dissolved his limited partnership. Due to that, he filed a quit claim deed The “X Trust” was ammended as grantee. I am not a beneficiary of the X Trust. Does only his “life time interest” get transferred? And will the property still be transferred upon his death to me?
Asked on August 1, 2012 under Estate Planning, Colorado
Answers:
Terence Fenelon / Law Offices of Terence Fenelon
Answered 12 years ago | Contributor
In my state, the answer would be no to the question as to whether the property would be transferred to you. The dissolution of the limited property, the title would re-vest in your dad. His quit-claim deed into the trust would trigger the property, upon the demise of your father, to pass to the beneficiaries of the trust. Absent specific restrictions in the granting documentm you would have no claim.
Please note that the answer is specific to the law of may state and my vary.
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