If my home is in a living Trust, can I pass the deed to my son, the trustee without him qualifying for a loan on the mortgage?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my home is in a living Trust, can I pass the deed to my son, the trustee without him qualifying for a loan on the mortgage?
He is the trustee.
Asked on November 15, 2017 under Estate Planning, Arizona
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
If your home is in a Living Trust, the Deed should be in the name of the Trust, not in your son's name. He is the Trustee who oversees the Trust and he can administer the terms you have set for him under the Trust document. If you understand things differently please take the Trust document to an attorney to review. Good luck.
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.