Steping into the Executors roll... - Posted by M. Osterman

Posted by M. Osterman on June 21, 2007 at 15:19:07:

Yes title is held in TRUST.

Thanks Jimmy.


Steping into the Executors roll… - Posted by M. Osterman

Posted by M. Osterman on June 21, 2007 at 07:01:35:

Can I as an investor buy out an executor of an estate? I know you can for hiers, but my opportunity is not wrapped that way. There is a trust, property (~100k maybe…not sure about Med-Care and or other expenses i.e funeral, legal)and bene’s.

I have a copy of the “Certified Abstract of Trust Agreement” It states there is a trust, who the Executors shall be and fidicuary responbility’s. It also contains the will. MY QUESTION…Where is the TRUST? I’ve been reading more about settling estates. And do I need it to interperate the direction of the wish’s of the decedent?

I spoke with the appointed executor and he is very weary of me and my roll. He said that he has the attorney that drew up the original trust working on transfering the property out of the decendent’s name to clear title. The house is in foreclosure and will be going to sale in July. It was postponed once but the ignorance of the family seems to tell me that they’ll let it go.

Any feedback is greatly apprieciated.


Step[p]ing into the Executors [trustee’s] roll… - Posted by Rick, the Probate Guy

Posted by Rick, the Probate Guy on June 21, 2007 at 22:03:22:

Mike - probate estates have executors and administrators. Fiduciaries of trusts are trustees. My guess is that you spook your contact every time you talk to him.

Your methodology is way too scattered and anyone that you contact will immmediately pick up on this; you just don’t come across as someone who has either the expertise or the resources to add value.

Take this property and reverse engineer it. How does title vest now? Transferred into a trust? Trust are NOT recorded, only the transfer deeds which fund them are. Also, you may not be able to ascertain who the successor trustee is, should that role be served now.

The house is not going to sale; it’s merely in foreclosure, sale published or not. You don’t know what will happen. You are merely speculating that it will go to trustee sale. Lots can happen at the “last minute.”

If you are going to talk to another principal, it’s time that you posture yourself to be an informed, well-educated professional. You don’t need a Harvard accent however you will do well to study the facts exceptional well before making any further contact with your principal. It might be well advised that you get someone else to approach this man for the short term.

Now, what are you trying to buy? The equity? You don’t even really have any outside way of confirming whether the trustee is a beneficiary of the trust or not.

What is your ideal offer? How would you present it? On the back of notebook paper? Or, how about heavy cotton bond letterhead paper? Why should they accept your offer? What’s special that you can do that the next guy that calls them can’t?

You need to be prepared for these questions and come across in a manner that attracts money and deals.

Get Facts - Posted by Jimmy

Posted by Jimmy on June 21, 2007 at 07:35:06:

Don’t complicate this situation.

your interest here is the property. right?

How, PRECISELY, is the property titled? If it is in the name of the trust, then the Estate and executor have nothing to do with the property. You need to deal with the Trustee.

Do you guys mean ROLE ? nt - Posted by blucat

Posted by blucat on June 22, 2007 at 10:23:41:


Step[p]ing into the Executors [trustee’s] roll… - Posted by M. Osterman

Posted by M. Osterman on June 21, 2007 at 22:48:58:

Thanks for the input Rick!

Thankfully we have these boards to ask “scatterd” questions.

I’ll go chew on this for awhile.