A: What exactly do you mean by "I have the deed"? Is the deed in your name? Did a transfer deed into your name ever get recorded or even written? Merely having possession of the piece of paper (the deed) does not give you possession of the property, even if it was given to you with that intent. Real property transfers REQUIRE a written transfer to be effective. If none of that occurred, yes, you may have to share in the property.
A: Yes, definitely the Revocable Trust can be the beneficiary of the IRA. And the Trust can then distribute proceeds, per the terms of the Trust, to the children. Taxes on the IRA would normally be paid by the IRA at the time of distribution to the Trust.