Need to Sell a Trust Property?
The Sanborn Team has more than 30 years of experience assisting Trusts, Trustees, and Beneficiaries with the sale of real property.
- WHAT IS A TRUST? A Trust is a legal entity that can hold title to property for the benefit of one or more other persons or entities.
- WHO CREATES THE TRUST? The person who sets up the trust is called the Creator.
- WHO CONTROLS THE TRUST? The person or entity that controls and manages the assets of the Trust is known as the Trustee. The Trustee acts as a fiduciary, like an administrator or an executor in a probate sale, holding legal title, but not full title, to the property in the Trust.
- WHO BENEFITS FROM THE TRUST? The person(s) who are intended to benefit from the Trust are known as Beneficiaries. The Creator, the Trustee(s), and the Beneficiaries need not be different people (as stipulated by state law).
- WHAT IS A TRUST SALE? A trust sale is when a third party acts on the instructions of a Trust and on the wishes of the Beneficiaries to sell real property. The assets and proceeds from a Trust sale are designated for the welfare of the Beneficiaries, not the Trustee.
If you are a trustee contemplating the sale of real property, The Sanborn Team has decades of experience representing sellers of real estate through trust, probate, and conservatorship. We work closely with your attorney and financial advisors to assure that you understand the sale process and the implication of your decisions along the way. Please contact us for additional information.