Please help! Doing a house sale with no agents involved. The house is in a trust. The exhibit A lists the two owners and the trust as owners. Who is listed as the seller on the purchase and sale agreement? The two owners or the trust? All three? Thank you!
@Amy Thatcher check with Escrow or your attorney, but you would need to title it under the name of the Trust. Example, 123 Main Street Trust, John Doe as Trustee. The beneficiaries of the trust are the owners of the property and direct the Trustee to buy, sell, encumber, etc.
"The house is in a trust. The exhibit A lists the two owners and the trust as owners."
Assuming you mean there is only one (1) title owner and that is the trust
Assuming you mean the two owners are the Grantors/Trustees,
I would name the Sellers on the Contract as "John Smith and Mary Smith, Trustees of the John and Mary Smith Trust" which is the same way I would call/name the Grantors on the Trustee's Deed.
You could say the Grantors are the "owners" but the Trustees control the trust and have the power to commit the trust to contracts etc.
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