How a Business Hired a Lawyer to Review a Trust Deed in Minnesota
See real project results from ContractsCounsel's legal marketplace — this project was posted by a business in Minnesota seeking help to review a Trust Deed. The client received 2 lawyer proposals with flat fee bids ranging from $2,000 to $7,500.
Review
Trust Deed
Minnesota
Business
Business
Less than a week
$2,000 - $7,500 (Flat fee)
2 bids
How much does it cost to Review a Trust Deed in Minnesota?
For this project, the client received 2 proposals from lawyers to review a Trust Deed in Minnesota, with flat fee bids ranging from $2,000 to $7,500 on a flat fee. Pricing may vary based on the complexity of the legal terms, the type of service requested, and the required turnaround time.Project Description
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Trust Deed
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Can a trust deed be revoked or modified after it has been established?
I recently inherited a property that was placed in a trust deed by my late father, who named me as the beneficiary. The trust deed was established several years ago and outlines specific conditions for the distribution of the property. However, I am now considering making some changes to the property, such as adding an additional structure or dividing it into separate lots. I am wondering if it is possible to revoke or modify the trust deed to accommodate these changes, or if I am bound by its original terms.
Dolan W.
Hello! My name is Dolan and I'm happy to answer your question. If your father placed the property into trust and has passed, it's important to look at the trust terms to see if the trustee has any authority to transfer the property over to you. If there is no authority for that, then you have to determine whether the property requires the trustee to approve modifications or if your dad gave you the right to make these improvements yourself. Nevertheless, when a person dies, the trust becomes irrevocable, so modifications or revocations are not permitted. Revocations are allowed if something happens like you die and there is no backup beneficiary or if the property is condemned by the state,for example. Otherwise, you have to look at the trust terms and/or speak to the trustee. We can always review these things for you here on the site. Thanks again!