How do I purchase a home that is in a Trust?

Both parents are deceased. The home is in a Trust shared by 2 siblings. We have already agreed on a

selling price, I just don’t know how to go from here.

Asked on April 14, 2017 under Real Estate Law, Virginia

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

The trustee--and there must be a trustee; all trusts have them--can sell the home so long as 1) doing so is not against the terms of the trust (when the trust was created, rules or instructions were set up which *must* be followed for it), and 2) selling the property is in the interest of the other beneficiary(ies) (since the trustee must do what is right for all of them)--but with the other beneficiary agreeing to this, it is likely that the sale would be in their interest, too.
So your first step is to speak to the trustee to see if he/she will do this--to the person who has been managing and adminstering the trust. If unsure of who that is, speak to the lawyer that made the trust.
If the trustee will sell, a trust selling a home is essentially no different than a person selling his home--the process is the same, except that the trustee will need to provide evidence not just that the trust owns the home, but also that he has the authority to sell (i.e. that he is the trustee and that trust permits this).


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