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When you sell property held in trust are the proceeds taxable?
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Who has the legal title of the property in a trust?
Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.Trust property.The title to the trust property is held by the trustee.
Can property held in a trust be seized by a court order?
Yes. There are circumstances whereby a court can order the transfer of property held in a trust.
Can a trustee get a loan on the property held in trust to pay off heirs?
Trustee is not the owner of the property and hence he will have no right to sell the property held under trust.
Can a name be added to living trust property?
No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.
Does Cleve trust realty investors still exist?
No. The final properties held in the trust were sold off in approx. 1998 and the trust was fully liquidated and all proceeds were distributed to the shareholders.
In a Trust what is the Trustee and Trustor?
The trustor is the person who executes the trust and transfers their property to the trustee. Since a trust cannot act for itself, the trustee is the entity named by the trustor to manage the property held by the trust. The trustee holds title to the trust property.
Is property held in an irrevocable trust protected in bankruptcy?
Can you protect your assets from bankruptcy by placing them in an irrevocable trust?
Can a child in UK own property?
No. Property can be held in trust for the minor until they reach the age of majority.
Is property held in trust subject to estate recovery by medicaid?
If the trust is drafted properly by an expert in trust law, the property should not be vulnerable to creditors. For any trust needs or questions one should consult with an expert in trust law.
Can title to property held in a foreign country be held in a trust for QPRT purposes?
Generally, any trust that holds title to real property must meet the requirements of the jurisdiction where the real estate is located. You should direct your question to an attorney who is an expert in trust law.
Who is responsible for the upkeep of a house left in trust to children whilst stepmother lives on it it until her death?
The trustee named in the trust document is responsible for the upkeep of the house, including any maintenance, repairs, and upkeep costs, while the stepmother lives in it. The trustee must ensure that the property is maintained in good condition for the children's benefit when they eventually inherit it. It is important to review the trust document for specific instructions regarding the responsibilities of the trustee in this situation.
Can a minor legally own property in Utah?
A minor cannot own real property. It could be held in a trust for the minor.
