Can You Sell a House in a Trust?
We’re talking about whether you could sell a house that’s in a trust. All right if someone put a house in the trust, whether you are able to sell the property on the open market. The general answer is yes.
If you’re the trustee of the trust, remember that, it’s important. Trustee is the “property manager” of the trust. They get to make the decisions on whether to sell. They’ll sign the deed, they will get the loan and apply. That person needs to sell the property and to be on board, so the trustee can sell trust assets.
An asset that’s part of the trust is your house usually and they’ll be able to sell it. Now if the trustee is you, that means you can sell it. So people that create a living trust usually are the trustees and nothing happened. Does the trust make a difference? Not when it comes to selling your property.
When you pass away, another person comes into your shoes, the trustee will be able to sell it, even if the beneficiaries are different. It can be another person altogether, it doesn’t make a difference, but the trustee will have the power to sell, not the beneficiary. It could be both the same people, in which case it doesn’t matter. But if they’re different people, then the trustee is the one who is the ultimate decision-maker.
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