Saturday, August 13, 2011

How do I handle this commercial property?

Twelve years ago my mother ped away.The family trust named my brother and sister co-trustees,my dad, who was in a bankruptcy was the Grantor.After a lengthy civil court battle,between dad and the co-trustees,the trustees resigned, but not until after having auctioned off dads real estate,claming expenses for travel research etc. they kept all the money.I sided with Dad during all this and with the help of some newspaper clippings about the high value of one commercial lot in the trust and a good attorney, managed to get the one property set aside.The co-trustees did not realize they still owned the property,because of their resignation.After the Grantor [Dad] Quit claimed the property and seven years went by, I also paid the prop taxes ,obtained surveys,fenced the prop,installed a driveway to connect to the state hwy. I did a title search,and I was pleasantly suprised to see my name added to the ownership.The county deed only shows my name but the title search says:"so and so and so and so,co-trustees of the such and such family trust under agreement dated 1999 and "my name",AS THEIR INTEREST MAY APPEAR.-what is the best way to handle this situation.Should I list the property in my name with realtor and when I get a buyer,contact them?Can they be removed through adverse possession?Can I change the title somehow?They never used a penny to help their own dad,and even had him arrested when he complained about them.I want to share with Dad, and have him use the money they way this was originally planned.Thank you for your help.

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