What does property held in trust mean

A testamentary trust is created by a will and arises after the death of the settlor. An inter vivos trust is created during the settlor’s lifetime by a trust instrument. Trusts and similar relationships have existed since Roman times. Trustees thus have a fiduciary duty what does property held in trust mean manage the trust to the benefit of the equitable owners.

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Trust ownership of real estate

Not sure which one is right for you? A family trust is a legal entity created as a means of passing family property to family members upon the death of the person or persons who created the trust. In some situations, co-owners of property may structure their ownership interests in a way that provides for the transfer of a deceased co-owner’s property interest. Probate Probate is trust ownership of real estate court-supervised process of transferring a deceased person’s property.

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