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I plan to refinance my family home. Are there advantages/disadvantages to forming a trust to own the real estate before I do?

Boonton, NJ |

My home is a 2 family. I also have another investment property which is 3 family. I have been thinking of transferring their deeds over to a trust which i will operate. Is this expensive to do? Are there any tax advantages to not owning my houses? Are there disadvantages? How can I find out this issue?

Attorney Answers 3


  1. You should consult with a local estates / tax attorney.

    Why a trust instead of a corporation or LLC?

    If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education purposes only. It neither creates an attorney-client relationship nor provides legal guidance or advice. The answer is based on the limited information provided and the answer might be different had additional information been provided. You should consult an attorney.


  2. I agree with Mr. Millar. You should consult with a trusts and estate attorney. Good luck.

    The previous information is solely for informational purposes only. If you have further questions, please contact an attorney in your area for more specific answers. Responding to your question in no way creates an attorney/client relationship, and none of the specific guarantees of privacy exist. If you have found this information helpful, kindly check the "helpful" box. NOT LEGAL ADVICE: The above information may contain an opinion which does not constitute legal advice. Unless a retainer agreement has been signed, we are not your legal representatives, and you should not rely on any opinions contained in this message.


  3. Agree. COnsult with an estate planning and tax attorney. Trying to get advice off the web for something of this complexity is a bad idea. It is not unusual for mortgage companies to insist that mortgaged property in RLTs be removed from the RLT before refinancing.

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