104. FAMILY TRUST SALES

More and more people are buying and selling properties that are held in a trust. If your client is a trust, play it safe and ask for a copy of the trust to determine who has the authority to sign on behalf of the trust. Recently we discovered that the person whom everyone in the trust thought was the authorized trustee was not – it turned out they were wrong – they had forgotten – it was an old trust, so they assumed A had the right to sign but B was the true trustee and he was out of the country. You should also go to public records to find the true owners of all your listings – dont get caught not knowing.

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