Quote:
Originally Posted by Can't Know
At it's roots, a trust is a contract. If it's truly irrevocable, the trust is governed by the terms of the trust and if it permits the trustee to sell any or all of the assets for the benefit of the trust/beneficiaries, the trustee may do so, regardless of what the settlor may now desire.
It's just that simple.
For me, step one would be to have the record of the title to the property checked. If it's been properly transferred to the trust, then check with the trustee to see if it can be sold. The trustee doesn't have to disclose all of the terms of the trust, but must represent that they are empowered to sell the property, etc. Naturally, use a lawyer and a good title company.
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I would agree with this completely, but state law prevails. Whether selling it is in the best interest of the of the testator or the beneficiaries is another matter. Maybe a long term appreciation strategy? Who knows. Typical "boilerplate" lanuage usually gives the trustee these powers.
Here in NJ, it is the buyer's choice in selecting the Title Agency to do a title search. Dunno about AZ. That, naturally is a must do.
FWIW, I am not an attorney. MTI is an attorney and he lives in AZ now. He's the one to ask.