Selling Property Owned by a Trust
Anytime a piece of real property is sold by an entity, extra documentation is required. When a property is owned by a Trust, the trustee(s) are responsible for providing the title company with all the documentation they require, days or weeks in advance of settlement. They will most likely ask for:
- Copy of the Trust
- Proof that the trust has not been altered or revoked
- The Names of all Trustees
In addition, all the trustees will need to be available for settlement or sign Powers of Attorney. Contact the title company if settlement attendance will be a problem so the proper documentation can be completed and signed.
Credits:
Cheryl Hartzman
CLT
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