how do I add a co-owner to my real estate if it’s in a trust?

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how do I add a co-owner to my real estate if it’s in a trust?

I want to add my daughter’s name as co-owner to my real estate
property how do I do that if my property is in a trust? I have greedy
relatives and I want to make sure that there are no disputes.

Asked on October 13, 2017 under Estate Planning, Missouri

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You can't add anyone as owner of real estate in a trust. You call this "your" real estate, but if it is in a trust, it is actually owned by the trust, even if it is owned, maintained, managed, etc. for your benefit--it's still the trust's property. So since it is not your property, you can't alter ownership; and moreover, only the person who created the trust can change it, and only if it is a "revocable" (changeable) trust--otherwise, everything in the trust is owned and managed as per the terms of the trust, and cannot be changed from what the trust specifies.
(Note: if you were the "settlor," or person creating the trust, *and* it was a revocable trust, you could revoke it, terminating it; then create a new trust with whatever terms you wanted and/or not create  trust but simply own the property in your name and/or in your and your daughter's name.)


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