Once you’ve transferred your home into a trust, is it difficult to later sell that property? That’s the question we’re answering in Siedentopf Law’s latest video:
VIDEO TRANSCRIPT:
Hi, I’m attorney Sarah Siedentopf. I am an estate planning and probate attorney in Atlanta, Georgia.
Maybe you’re considering transferring your house into a revocable living trust, but you’re wondering, “I don’t necessarily want to live here forever. What if I want to sell this house? How difficult is that after I’ve transferred it into a trust?” The answer is, not very. Generally speaking, if you’re transferring the house into a trust, you’ll be the trustee. So you’ll be transferring the house into the trust as (Your Name) as Trustee of the (Your Name) trust. When you go to sell it, you as trustee of the trust can sell it, just basically the exact same way that you would if it was in your own personal name. Now, if you’ve designated someone else as trustee of your trust, then obviously you trust that person, and they would help you sell the house if that were the right thing to do. So again, you’re going to be able to sell the house but transferring the property into your trust does not mean you have to live there forever. If you want to sell the property, you’re going to be able to sell the property. Not a lot of extra hoops to jump through. Not a big deal. If you’ve got questions about this, please let me know. Thanks.
