Living Trusts

Living Trust

Estate planners often recommend "Living Trusts" as a viable option when contemplating the manner in which to hold title to real property.

When a property is held in a Living Trust, title companies have particular requirements to facilitate the transaction. While not comprehensive, following are answers to many commonly asked questions. If you have questions that are not answered below, your title company representative may be able to assist you, however, one may wish to seek legal counsel.


Who are the parties to a Trust?

A typical trust is the Family Trust in which the Husband and Wife are the Trustees and, with their children, the Beneficiaries. Those who establish the trust and transfer their property into it are known as Trustors or Settlors. The settlor's usually appoint themselves as Trustees and they are the primary beneficiaries during their lifetime. After their passing, their children and grandchildren usually become the primary beneficiaries if the trust is to survive, or the beneficiaries receive distributions directly from the trust if it is to close out.


What is a Living Trust?



Can a Trust hold title to Real Property?

No; the Trustee holds the property on behalf of the Trust.

Can a Trustee borrow money against the property?



Can Someone else hold title for me "in trust?
