There are a wide variety of ways deeds convey property into trusts. Their complicated nature means that each closing involving a trust may have to be handled differently than the last one you closed. Certain variables will determine the requirements to insure title is properly conveyed/mortgaged by the trustee of the trust. Each situation must be looked at closely to make sure all the requirements are met to insure.
The different variables commonly found when investigating trusts:
– Is the trustee named?
– Is the trust recorded?
– Are trust powers identified?
– Is the trust “active” or “passive?” That means the trustee can sell/mortgage the property at their discretion.
Depending on these variables, and a few others, resolving any trust issues can fall in a wide scale of easy/fast to challenging/longer.
If you have a listing with a trust, don’t wait for a contract to send it to us. Let’s work together early to make sure everything is ready for when a buyer shows up.
My Agent Greg 