US Legal Forms
Legal Resources
Questions & Answers
Trusts
Can My Daughter Transfer Property to a Trust After We Deed he Property to Her?

Can My Daughter Transfer Property to a Trust After We Deed he Property to Her?

Q: Can a trustee sell property in a revocable living trust?

Yes, a trustee can sell property held in a revocable living trust. Since the grantor retains control over the trust, they can instruct the trustee to sell the property. The proceeds from the sale will remain in the trust and can be used according to the terms set forth in the trust document.

Q: What happens to a revocable living trust after the grantor dies?

After the grantor of a revocable living trust dies, the trust typically becomes irrevocable. The trustee must then manage and distribute the trust assets according to the terms outlined in the trust document. This process usually avoids probate, allowing for a smoother transition of assets to the beneficiaries.

Full question:

Granto's , mom, dad and daughter own one third each undera survivorship deed of property located in Lake County Ohio. Mom and dad are transferring 1/3 each of their interest in that said property to daughter. Can daughter's property then be deeded into a revocable living trust .

Category: Trusts
Date: 04/07/2025
State: Ohio

Answer:

In order to fund a trust with real estate, the real estate needs to be transferred to the trust. Typically this is done by the present owners preparing a deed transferring their ownership to the trust and recording the deed at the county recorder's office in the county where the property is located. For example, in a case where a daughter is the sole owner, the deed's grantor is the daughter and the grantee is a trustee. If the grantee is a person acting as a trustee, the person is named in his/her capacity as a trustee, rather than personally, as an individual. In OH, the deed must be notarized at the time of signing.

For further discussion, please see:

http://www.ehow.com/how_4491466_real-estate-property-living-trust.html

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is a revocable living trust?

A revocable living trust is a legal arrangement where a person (the grantor) places their assets into a trust during their lifetime. The grantor can modify or revoke the trust at any time. This type of trust helps avoid probate, provides privacy, and allows for easier management of assets if the grantor becomes incapacitated. Upon the grantor's death, the assets in the trust are distributed according to the trust's terms without going through probate.

How do you transfer property into a trust?

To transfer property into a trust, the current owner must prepare a new deed that transfers ownership from themselves to the trust. This deed must be signed, notarized, and recorded at the county recorder's office where the property is located. It's essential to clearly identify the trust and the trustee in the deed to ensure proper transfer.