When a new living trust revokes the first do you need to deed property into new dated trust?

Question

regarding a litigation regarding a sale of property which i show holding a beneficiary interest. Being forced to settle for 25,000 appose to 400,000. Have a nice attorney but the he says there side has stronger arguments. Now if my trust is revoked by new one I think my quit claim showing orignal trust date and it was recorded 3 years after there new trust is dated, should be revoked to. They want me to stipulate the 1995 deed transfers to the 1996 trust. If my grandfather wanted second trust to be his intention he would have not recorded deed in 1998 with regards to his first trust. Confusing isn't it.

Answer 1

If a trust is revoked, property in the first trust has to be retitled into the new trust if it is to be a trust property, instead of part of the individual's or estate property.  It is very important to set up a trust properly or the trust can be null and void or have serious tax consequences, etc.

Answer 2

You can't revoke a deed.  The old trust must execute a deed to the new trust.

Deeds of land must be recorded in order to be effective.  If a deed is executed but not recorded in the Recorder of Deeds Office, it is as though the property was never conveyed.