Q: Our house is owned by our Revocable Trust. We would like to sell the house. How do we remove the house from the Trust for the sale? A: As the Grantors of your Trust, you can sell property in your Revocable Trust the same way you would sell a property titled in your own names. The only difference is that you use a different type of deed called a Trustees’ Deed. Trustees’ Deeds typically are prepared by your attorney. You should provide a copy of your existing deed on the property to your attorney, showing when the property was deeded to the Trust, and verifying the legal description and recording information. If you are providing title insurance as part of the sale, you will need to purchase a title commitment from your title company. This title commitment will stipulate the information that in required to be included on the deed. Your attorney will use this information to prepare the Trustees’ Deed and Affidavit or a Certification of Trust. An Affidavit/Certification of Trust in Kansas should state the name(s) of the Trustee(s) of the Trust, that the Trustee(s) are legally authorized to sell the property, and that the Trust is in good standing, among other things. The Affidavit may be combined with the Trustees’ Deed, while the Certification of Trust typically is a separate document. The Trustee(s) must sign these documents before a notary public. The documents must then be recorded with the Register of Deeds in the county where the property is located to complete the transfer, once final payment has been received by the Trustee(s). If your attorney is not the same attorney who prepared your Trust, you may need to provide him/her with a copy of your Trust to review before they will be able to prepare the Deed and Affidavit or Certification of Trust. The attorney will be looking for the legal name and date of the Trust, as well as identifying the currently acting Trustees. They also will be reviewing the authority granted to the Trustee(s) in the Trust, to ensure they are legally able to sell the property. Without the proper documentation, there is a high risk of placing a cloud on the title to the property, which could result in a costly legal proceeding in the future. Your closing agent will prepare the necessary documents to ensure payment of property taxes, mortgages, etc. They also will coordinate the payment of funds and recording of the Trustees’ Deed and Affidavit or Certification of Trust. For more information about real estate matters, contact Davis & McCann, P. A., Dodge City, KS. We are members of Wealth Counsel, a national consortium of Estate Planning Attorneys and the National Academy of Elder Law Attorneys (NAELA). We focus our practice on providing clients with the best legal advice on Estate Planning, Medicaid and Long-term Care Planning, Business Formation, Agri-Business/Small Business Succession Planning, Probate, Trust Administration, Real Estate Transactions, and related matters. Comments are closed.
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