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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] THT, Lis Pendens and AJ's Posted by Ward-CA- on October 25, 2003 at 1:50 PM In Reply to: THT and AJ's posted by JK on October 24, 2003 at 10:03 PM : Hello : If we have a few real properties as follows: : ABC LLC, Trustee of the 1st Trust : ABC LLC, Trustee of the 2nd Trust : ABC LLC, Trustee of the 3rd Trust : Then ABC LLC gets sued - Does the Lis Pendens affect the ability to transfer Title? : i.e. does the court case (or an AJ) filed against ABC LLC restrict us from selling/transferring the above real properties or not? -=-=-=-=-=-=-=-=-=-= JK, If the Lis Pendens reads, “ABC LLC, Trustee of the 1st Trust” then it would stop the ability to transfer the title of the 1st Trust until the Lis Pendens was removed. But it wouldn’t prevent the transfer of the two other entirely different properties, titled in the names of the 2nd Trust and the 3rd Trust. It doesn’t matter if your trustee (be it a person or an LLC) is embroilled in their own legal woes as long as it doesn’t involve your trust. And if the heat gets too hot the current trust beneficiary can replace them via a recorded deed to a successor trustee or via a recorded Substitution of Trustee. Hope this helps. Follow Ups: Clarification JK 9:03 PM, 10/25/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hello : : If we have a few real properties as follows: : : ABC LLC, Trustee of the 1st Trust : : ABC LLC, Trustee of the 2nd Trust : : ABC LLC, Trustee of the 3rd Trust : : Then ABC LLC gets sued - Does the Lis Pendens affect the ability to transfer Title? : : i.e. does the court case (or an AJ) filed against ABC LLC restrict us from selling/transferring the above real properties or not? : -=-=-=-=-=-=-=-=-=-= : JK, : If the Lis Pendens reads, “ABC LLC, Trustee of the 1st Trust” then it would stop the ability to transfer the title of the 1st Trust until the Lis Pendens was removed. : But it wouldn’t prevent the transfer of the two other entirely different properties, titled in the names of the 2nd Trust and the 3rd Trust. : It doesn’t matter if your trustee (be it a person or an LLC) is embroilled in their own legal woes as long as it doesn’t involve your trust. : And if the heat gets too hot the current trust beneficiary can replace them via a recorded deed to a successor trustee or via a recorded Substitution of Trustee. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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