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I don't understand the question. "Title to trust assets is to be taken in the following manner"?

Thousand Oaks, CA |
Filed under: Real estate

House being sold and Title company is requesting this form.

Attorney Answers 3

Posted

Assuming the house is in a trust, the proceeds from the sale need to go into a trust account, and the title company probably wants to know who the trustee(s) is/are and the full name of the trust. If the property was held in sub-trusts, (e.g., "X" survivor's trust and "Y" bypass trust), the company needs to know who those trustees are; and how much of the sales proceeds are "cut" to one sub-trust versus the other.

Disclaimer: The materials provided below are informational and should not be relied upon as legal advice

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Posted

Thank you that did answer my question!

Posted

the title company is asking for the legal name of the recipient of the sales proceeds, presumably a trust

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Posted

The title company is asking you how it should style the check because a trust is involved. Call the officer closing the deal and discuss the question so you are clear what the title company is asking.

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