Real Estate in a Trust

Real Estate in a Trust

Should I record my trust before I record the quit claim deed placing my house into the trust with me serving as the Trustee and my wife and brother-in-law serving as the Co-Trustees?


I assume you're speaking of a revocable living trust that you're setting up to manage assets and avoid probate (if not ask again with more details). In many states you don't have to record a trust for the trust to validly accept real estate. In others you may have to for title to be validly transferred to the trust. In many instances you might be able to record a short version or summary of the trust (called a memorandum of trust). If you have a mortgage, will the transfer to your trust trigger the due on sale clause in the mortgage? Must or should you name the trust and the trustees on your property/casualty insurance? Will your title insurance policy be affected? Lots of questions. Sorry. But that is why you should ask a local real estate or estate attorney to address them. If you really want to minimize costs, see how much you can address on your own but have it all reviewed first (it would be a shame to transfer the house and then find you have an insurance or mortgage problem).

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