the loan is currently in a trust, what is required to transfer the loan out of the trust

Layer-visible-off
0
Unfavorites
0

the loan is currently in a trust, what is required to transfer the loan out of the trust


0

If it is a revocable trust, the trustee should be able to execute a quit claim deed to transfer ownership out of the trust to the property owners. If it’s an irrevocable trust, not quite so easy, more of a question for a real estate attorney.

Answered 9 months ago
Ted Rood
1269 6

0

Do you mean the Property is in a Trust? That’s what Ted is assuming as well as I am, and his answer is spot on accurate. If you have a real estate transaction, your escrow officer should be able to easily handle this for you. Is it safe to say that you are refinancing and someone told you that you had to take it out of the Trust? Check around, that is not always the case, but it might be cheaper than having your attorney provide a Trust Certification or Attorney Opinion letter that may be required….then again, maybe you already know all of this.

Answered 9 months ago

You Must Be Logged In To Answer