If you’ve put your home into a trust, or you’re helping a loved one who has, you might be wondering: is selling a house in a trust before death possible?
Yes, in many cases. However, it depends on the type of trust and who’s calling the shots. At IPS Cash, we buy houses in NH and can explain these often complex transactions.
Things To Consider When Selling a House in a Trust
Any time you want to sell a house that’s in a trust, there are three main elements to consider: the type of trust, who is in charge of the trust, and who the beneficiaries are.
1. The Type of Trust
A revocable living trust is the most common type of trust. It allows the person who created the trust (called the grantor) to change, manage, or even cancel the trust while they’re still alive. If the grantor is still living and mentally capable, they can agree to sell the house.
That’s because with this kind of living trust, the grantor typically also acts as the trustee. They still have control over the home, even though the trust technically holds it. In this case, selling a house in a trust before death typically involves following the correct legal steps.
2. The Authority
Whether it’s the grantor or someone else appointed to manage the trust, the trustee has the power to oversee the property. If you’re the trustee and the trust says you can sell the house, then you’re in the driver’s seat.
Because some trusts include specific rules about the property, check the trust documents to confirm your trustee authority before listing it for sale.
3. The Beneficiaries
Selling a house in a trust before death doesn’t usually require beneficiary consent, especially in a revocable living trust. However, in some situations, especially with irrevocable trusts (which are unchangeable without the beneficiary’s agreement), things can become complicated quickly.
The key in those cases is understanding the grantor’s intent for the trust, which may require a court’s intervention. Did the grantor mean for the house to remain in the family, or were they open to a sale if needed? The trust’s language will guide your next steps.
Selling Property Held in a Trust
A trust property sale only requires a few additional documents, including trust certificates and proof of trustee powers. The title company will typically request these documents at closing.
When planning any real estate trust transfer, it’s wise to work with a buyer or company that understands the intricacies of trust-owned properties. That can save you time, stress, and legal headaches.
Consider a Cash Offer To Speed Up the Sale
So, can you sell a house in a trust before death? In many cases, yes, especially with a revocable living trust where the grantor is still around to give the green light.
If you’re considering selling a house in a trust before death here in Nashua, reach out to me, Joe Theriault, and my team. We make the process of selling eas, regardless of condition. If you are considering selling a damaged house quick, easy, and stress-free by offering a fair cash deal. Call 888-893-7188 for a quote.
