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?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
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 12 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.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.