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Selling a Home Held in a Trust?
Selling a Trust property can involve more questions than a traditional home sale. Understanding the property, the Trust and the responsibilities of the people involved is an important first step.
Elizabeth "Libby" Castillou has helped Central Valley clients navigate property sales involving Trusts and other life transitions.
There Isn't One Trust-Sale Checklist for Every Property
The appropriate process can depend on the Trust documents, trustees, title, ownership, property condition, beneficiaries and other circumstances. The first step is understanding what applies to the particular property.
Understand the Property
Review the property, its condition, ownership information and factors that may affect the sale.
Understand the Situation
Determine who is authorized to act and what documentation or professional coordination may be needed.
Determine Market Value
Establish a realistic understanding of the property's potential market position before deciding how to proceed.
When a Property Sale Is More Complicated
A Trust property sale may involve family members, trustees, beneficiaries, attorneys, title professionals and other parties. Clear communication and organization can become especially important when several people are involved.
Libby's experience with Central Valley real estate and transactions involving Trusts allows her to help sellers understand the real estate side of the process and coordinate with the appropriate professionals when questions fall outside the scope of real estate services.
This page is general information and is not legal or tax advice. Trust documents and individual circumstances should be reviewed with the appropriate attorney, tax professional or other qualified adviser.
Questions About Selling a Trust Property
Can a Trust property be sold?
Yes, Trust-owned property can be sold, but the appropriate process depends on the Trust and the circumstances of the property.
Do all Trust sales work the same way?
No. Trust documents, trustees, title and individual circumstances can affect the process.
Should I determine the property's value first?
Understanding the property's potential market value can help the people responsible for the property make informed decisions about whether and how to sell.
Do I need an attorney?
Real estate professionals can assist with the real estate transaction, but legal questions concerning a Trust should be directed to a qualified attorney.
Have a Trust Property to Sell?
Start with a conversation about the property and your circumstances.
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