Refusing to Sell Can the Trustee do this? No. If the Trustee wants to keep the home, or some of the other beneficiaries want to keep the home, then they will need to buy out your interest in the home. If they refuse, then you and your lawyer can go to court and ask the court to order a sale of the home.
How long does a trust sale take?
Most Trusts take 12 months to 18 months to settle and distribute assets to the beneficiaries and heirs.
When can a trustee be removed?
Typically, a court will remove a trustee if a beneficiary or beneficiaries prove that: Removal is necessary to safeguard trust assets and protect the beneficiaries; The trustee has not fulfilled their duties as laid out in the trust deed; or.
Can a successor trustee sell a family home?
What I have found in working with sellers who are selling real estate as a successor trustee is they are often under a bit of stress and duress. The home might be a family home where parents once lived or maybe even where the successor trustee grew up.
Can a trust be forced to sell a property?
E.g., If all owners of record agree they may sell it, If the property is held in trust the trust itself may allow the trustee to sell it. There is a type of court proceeding called a partition action in which a sale may be forced. Unfortunately, what your grandparents desired may not be the answer.
Can a court order force me to sell my house?
No and yes. No they can’t just force you to sell without a court order. Yes, they can sue you for what is known as a partition action in which the Court could order you to either buy the interests of your siblings or the property be sold with the proceeds divided. Payment of expenses is likely not the main issue.
Can a Chapter 7 Trustee Sell Your House?
Unfortunately, a Chapter 7 trustee can, and most likely will, sell your home if they can derive value for creditors. Indeed, it is the duty of the trustee to “collect and reduce to money the property of the estate for which such trustee serves…..” 11 U.S.C. § 704(a)(1).