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If you are a trustee of a trust and not list on a deed to a real estate property do you own the property? |
If you are a trustee of a trust and not list on a deed to a real estate property do you own the property? a trustee is a minder & is there to sort things out & to ensure fair play between any legal recipients No, you do not own the property. If the trust owns the property, the trustee can act in accordance with the trust documents to manage the property, rent it, sell it, etc. If you do anything contrary to the trust documents or not in the best interests of the beneficiaries of the trust, you can be sued. No, the trustee named in a deed acts in a fiduciary capacity for the named trust and its beneficiaries. No. The name on the deed is the owner of the property. So if the name on the deed is the name of the trust, the TRUST owns the property. No, you don't own the property; you may be able to sell it, but the funds must be distributed according to the rules of the trust. NO, the trusts owns the property for the benefit of the owners of the trust, not the trustee. |
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