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Tax, SDIRAs & Cost Segregation

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Arcinio Arauz
  • Wholesaler
  • Atwater, CA
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161
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Probate/Trust question

Arcinio Arauz
  • Wholesaler
  • Atwater, CA
Posted Jul 16 2015, 00:46

1. Property is held in a trust

2. Trustee dies

3. Successor trustee wants nothing to do with the property and is drug addict. No other kin

4. Trust document is lost and no copies found at attorney's office

5. Taxes are delinquent and subject to tax deed sale next year.

6. Small mortgage of 30K left on the property

7. Some liens due to code enforcement violations also show up

8. I asked successor trustee to sign over any rights if he has any. He refuses and says he wants nothing to do with house or trust or anything. Court documents and attorney's statement confirm he denounces as being successor.

Here's my question... Can I just name myself as successor trustee to convey title WITH-OUT A PETITION? My county assessor does not need to see the trust doc. I would just need to stake a claim indicating I'm the successor by recording a change of trustee document. I am willing to pay liens and taxes. The bank says they will work with me as long as I am on title. I would hate to see the house go. This is almost like an adverse possession deal. 

Thanks for your help

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