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Rental property in a Trust
started a topic
over 11 years ago
My sister is the Executor of a Living Trust in which rental property is listed in the Trust. We will only accept cash or a cashier's check from the new tenants and would like to know if the cashier's check must be made out to my sister, since she is, per the Trust, the Executor, or 'Landlord' of the rental unit, correct? Or, can the cashier's check be written to the person/persons that have the direct contact with the tenants. I want to make sure this process is done correctly to avoid any legal matters.
about 11 years ago
Generally speaking, a trust is the "Owner of the Property". If the trust is spelled out in such a way that the "executor" may assign an agent, then you may have the contract read that rent checks can be made out to that "agent." To avoid any mistakes, I would go to the holder of the trust and ask them.
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