If my 2 sisters and I inherited my mothers home in a trust, can we rent it in the trust’s name instead of selling it?

Asked on December 9, 2011 under Estate Planning, Washington

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If you and your siblings received a piece of real property through a trust and assuming the trust does not end per its terms, you and your siblings can rent out the parcel where the landlord would be the trust.

You and your siblings would have no obligation to sell the home unless the trust's terms require a sale. As such, you need to carefully read the trust in that its terms and conditions set forth how it is to be administered.

I recommend that you consult with a Wills and trust attorney further on the subject that you have written about.


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