How to sell Trust property?

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How to sell Trust property?

My father, my sister and I are trustees in a trust and my sister would like to buy my father’s car now that he can no longer drive. However, his car is listed in the Trust. Can he sell the car to her without any legal problems arising from the Trust?

Asked on August 14, 2012 under Estate Planning, Iowa

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

The best way to handle the car sale situation is to have a purchase contract drawn up and signed by the seller trustees and the buyer sister. The car's title via its registration is then transferred to the sister out of thr trust's name to the sister via your state's department of motor vehicles.


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