Understanding Trust Sales in LA County
As a trustee of a personal or family trust, it is important to understand the importance of decision making power and the duties that go along with a trust agreement. In some instances, real property is held in the name of a trust to protect an estate, family, or individual(s). Selling properties being held in the name of a trust is different from traditional properties, and as a trustee or potential buyer of trust property, it’s key to understand the process.
Depending on the type of trust and number of trustees, the process may be more extensive and require additional documentation –or might be a longer process due to trustees living in different states. In cases where there are multiple trustees of the trust, all of them may be required to sign off on the purchase or sale. If you are a trustee ready to sell or buy a piece of real property, it would be wise to have a copy of the trust agreement readily available along with contact information for any trustees.
If you are ready to buy or sell trust property in Los Angeles County, feel free to contact one of our team members on the Sanborn Team today. We have both the experience and knowledge to help you better understand the general process of trust sales and what to expect.
If you have questions about a personal or family trust, it would be best to consult with your attorney for guidance as these pages do not offer legal advice or attempt to define the many types of trust. This page should be used for general information for trustees and their representatives who might be facing the sale or purchase of real property. We also offer some resources for individuals purchasing property offered through a trust sale.