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If you are a trustee of a trust and not list on a deed to a real estate property do you own the property?

If you are a trustee of a trust and not list on a deed to a real estate property do you own the property?

Public Comments

1. No. The name on the deed is the owner of the property. So if the name on the deed is the name of the trust, the TRUST owns the property.
2. No, you don't own the property; you may be able to sell it, but the funds must be distributed according to the rules of the trust.
3. No, you do not own the property. If the trust owns the property, the trustee can act in accordance with the trust documents to manage the property, rent it, sell it, etc. If you do anything contrary to the trust documents or not in the best interests of the beneficiaries of the trust, you can be sued. Being selected as a trustee is a great responsibility. Someone trusted you enough to live up to that responsibility and put the beneficiary(ies) first. Live up to that.
4. NO, the trusts owns the property for the benefit of the owners of the trust, not the trustee.
5. a trustee is a minder & is there to sort things out & to ensure fair play between any legal recipients
6. No, the trustee named in a deed acts in a fiduciary capacity for the named trust and its beneficiaries. The trustee named on the deed just happened to be the trustee during the most recent purchase/gift of the property. If you are the new trustee of the trust, you can sell the property, but only under terms of the trust, and after proving you have the trustee power.