Expert: Dick Dennis - 6/30/2006

Question
We are planning to buy a house. The Seller has died, but has created a living trust on his name.
We are not sure who are the beneficearies. But
a single person claims to be the trustee.

1. How do I know if there are no other benficeiries ?
2. How do I know if they don't have liens/claims/unpaid taxes ?  
3. How do I know if they have a WILL ?
4. What are the documents do I have to sign them
before I sign the purchase agreement ?

Expecting your answer. Thank you so much..


Answer
If you are buying from a living trust, Kumar, the person who is a succeeding trustee is the person who will sign all the papers for the seller.

If you are working with a Realtor or real estate attorney, it is his/her job to make sure you are dealing with the correct person. They and/or the title company will take care of questions two and three.

Yes, you should sign the purchase agreement BEFORE the seller does. How is he or she to know what the price and terms are to be? There are no other documents you need sign at that time unless the Realtor or attorney asked you to. Those are usually documents to inform you how property is purchased in that state.

If an attorney is handling the estate of the property, I strongly suggest you get YOUR OWN real estate attorney to make sure your interests are protected.

I do wish you well.

Dick Dennis          dixiedee13@aol.com

www.OldProblemSolver.com