My father placed a trust in an irrevocable trust. I was the trusteeand beneficiary. After my father passed I

Yankeegirl
Other/Just Looking
Utica, NY

found out a realtor had purchased the house from my father using a lawyer to draw the contract without my knowledge. The realtor bought the house for 1/2 the value and resold less than a year for 4 times the purchase price. Should I report the realtor as well as the attorney for making a deal with my father who did not own the house?

Answers (6)
Yankeegirl
Other/Just Looking
Utica, NY

Yes the title search did show the house in a trust, but it was sold in a cash transaction so no insurance was used, so not sure where to report the problem.

Fri Jul 31 2009, 13:53
Keith Sorem
Agent
Glendale, CA

I am curious if the title search did not show that the owersship was in a trust?
It seems to me odd that this question did not come up.

Fri Jul 31 2009, 09:50
Margaret Amador
Agent
Sarasota, FL

I think Lee Alley gave a very good response. The fact you don't have money is another issue.

You might consider talking to Legal Aid in your City. Also find out who ( estate/probate attorney perhaps) can give you half an hour of courtesy consultation. There are lawyer referral agencies who can direct you to the right attorney . If the case has merit than the attorney may take it on for a share of the judgement. Trust me, attornies only take on cases that way when there is a reasonable certainty they can win.

. Good luck and let us know the outcome.

Thu Jul 30 2009, 17:34
Lee Alley
Agent
57702

It seems to me you have at least three questions embedded here.

First, a legal question, whether it was a legally compliant contracted transaction. That is a question for your attorney, not us realtors. I have an opinion, based on your explanation, but what's the point? It's a legal issue.

Second, is whether there was illegal or some other type of infraction that cheated you from inheritance in some way that is recoverable by you. Again, I believe that is a legal question you need to consult an attorney.

Third, is whether the real estate agent (and the attorney?) violated their own professional code of ethics or State real estate laws, or policies of his local Board of Realtors. You could report the incident to your State Real Estate Commission, and to the agent's local realty Board for their ethics committees to consider. Both those entities are capable of substantial penalties for ethics violations.

Hope this helps. And I do hope it was not here in the Rapid City area!

-Lee Alley
Prudential Realtors
Rapid City

Thu Jul 30 2009, 17:01
Yankeegirl
Other/Just Looking
Utica, NY

I have a registered deed placing it in the trust, which was irrevocable. I also have a copy of the check for the sale of the house written to my father not the trust. But the endorsed signature was analyzed and not my father's. The house has a new deed registered after it was sold again with a considerable profit. Not sure how the realtor felt he could negotiate with someone other than the owner. I don't know where to turn for help, I don't have funds for an attorney.

Thu Jul 30 2009, 16:50
Margaret Amador
Agent
Sarasota, FL
FIRST ANSWER

I guess i am going to ask another question. I always thought that what was left over in the trust was the inheritance. Whoever couldn't possibly have bought the house without your express consent had it been in your name or had there been a recording of some sort

This is an interesting question and could be, as I heard somebody say recently, "a teachable moment". Not being an attorney I will watch for the answer from some leagal beagle.

Thu Jul 30 2009, 16:33

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 8
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback