How to buy out siblings for a house that is in a trust

How to buy out siblings for a house that is in a trust

Member since 2024 · 2 posts · 0 votes

My parents put together a trust and placed our home in it.  The 4 of us are the beneficiaries to the trust, and according to the trust and also my parents will, everything is to be split evenly amongst all 4 of us.  I currently live in the house that is in the trust and would like to continue living here, but to do that i would have to buy them out.  How do i go about doing so?  Can i take out a loan on the house while it is in the trust and pay them off early?  or is there a better way to do this?

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  • Attorney · Columbus, OH · Member since 2023 · 193 posts · 145 votes
    2y

    Who is/are the trustee(s)?

  • Member since 2024 · 2 posts · 0 votes
    2y
    Quote from @Jason Allen:

    Who is/are the trustee(s)?


    My dad is the only one left, my mom passed last month, one of my brothers is named as the executor and I am the back up. He also has POA over all their financials, and I have the medical POA

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