April 18th, 2013 7:43 AM by Eileen Denhard
If a property is held in a trust, transactions that affect the property’s title status must occur in accordance with the provisions of the trust. The most basic requirements for closing a property transaction in the name of a trust include:
1. making sure the closing documents precisely match the name of the trust
2. confirming that the trustee has the authority to execute the transaction on behalf of the trust, and
3. confirming that the trust is still in effect.
In order to evaluate these points, the title agency will need to examine a current, signed (within 6 months) Certificate of Trust Existence and Authority and a copy of the ‘powers’ page(s) of the trust. Depending on the purpose of the trust, additional documentation may be required as well. In general, a full copy of the trust is not required.