What should I know about selling real estate in a trust?
Trust sales are different from probate sales because court approval is usually not necessary. But there may be legal requirement to give notice to certain interested individuals. In most cases selling real estate in a trust is very similar to a standard sale but the trustee is exempt from certain documentation or paperwork needed in a standard real estate transaction. The trustee must match the trust estate solely for the benefit of the beneficiaries. The trustee must also keep the beneficiaries of the trust reasonably informed of the administration and has a duty to take reasonable steps to control and preserve the trust property and make it productive.