Removing the House from a Trust

[AdrianM]

What is the name of your state? California

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Our grandmother has an existing Trust which contains money and a house. This was created years ago. Now the family as a whole ( including the grandmother ) is discussing removing the house from the trust since its no longer needed there. Can this be done legaly without any problems? (Such as triggering a Re-Assessment, Prop13, taxes, etc).

Right now the grandmother is sole owner, and the house is excluded from prop.13 (i.e.: low taxes).

Thank you,
- Adrian

 

[seniorjudge]

"Right now the grandmother is sole owner...."

I thought you said the land was in a trust?

Anyway, why don't you post this to the tax forum? You may have valid concerns and you are doing the right thing by checking before you act.