Question : 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?
- asked by sc4880
All Answers:
Answer #1
No. The name on the deed is the owner of theproperty. So if the name on the deed is the nameof the trust, the TRUST owns the property.
- answered by One Sailors Lady
Answer #2
No, you don't own the property; you may be able tosell it, but the funds must be distributedaccording to the rules of the trust.
- answered by Qextor
Answer #3
No, you do not own the property. If the trustowns the property, the trustee can act inaccordance with the trust documents to manage theproperty, rent it, sell it, etc. If you doanything contrary to the trust documents or not inthe best interests of the beneficiaries of thetrust, you can be sued. Being selected as atrustee is a great responsibility. Someonetrusted you enough to live up to thatresponsibility and put the beneficiary(ies) first. Live up to that.
- answered by ibu guru
Answer #4
NO, the trusts owns the property for the benefitof the owners of the trust, not the trustee.
- answered by americanfreeman
Answer #5
a trustee is a minder & is there to sort thingsout & to ensure fair play between any legalrecipients
- answered by harvester67
Answer #6
No, the trustee named in a deed acts in afiduciary capacity for the named trust and itsbeneficiaries. The trustee named on the deed justhappened to be the trustee during the most recentpurchase/gift of the property.If you are the newtrustee of the trust, you can sell the property,but only under terms of the trust, and afterproving you have the trustee power.
- answered by bcnu
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