Insuring Living Trusts Jamaica Plain MA

Living trusts have become more and more common in recent years as a way to avoid the arduous probate process. Trusts can hold real property like individuals do, but there are a few differences in the way title companies insure trusts, as opposed to individuals.

Kristin Noel Gherlone
(617) 469-6498
62 Ainsworth Street, Suite 1
Roslindale, MA
Specialties
Criminal Defense, Family, Landlord & Tenant, Litigation, Estate Planning, Residential, Immigration, Corporate, Probate
Education
Northeastern University,New England Law | Boston
State Licensing
Massachusetts

Jessica M. Saks
(617) 469-6498
62 Ainsworth Street, Suite 1
Roslindale, MA
Specialties
Family, Litigation, Estate Planning, Immigration
Education
University of Dayton,New England Law | Boston
State Licensing
Massachusetts

Wade A. Jensen
(617) 942-0617
5023 WASHINGTON ST
WEST ROXBURY, MA
Specialties
Land Use & Zoning, Estate Planning, Elder Law, Tax, Probate
Education
Boston University School of Law,Washington and Lee University School of Law,Tufts University
State Licensing
Colorado, Massachusetts

Laurie G Israel
(617) 277-3774
1318 BEACON ST STE 19
BROOKLINE, MA
Specialties
Family, Estate Planning, Real Estate, Tax, Probate
Education
Pennsylvania State University, Dickinson School of Law,Barnard College
State Licensing
Massachusetts

Timothy J Scanlan
(617) 787-0177
40 Soldiers Field Place
Boston, MA
Specialties
Estate Planning, Trusts, Tax
State Licensing
DC, Massachusetts

Christine M Nicastro
(617) 469-6498
SUITE NO. 1 62 AINSWORTH ST
ROSLINDALE, MA
Specialties
Estate Planning, Divorce, Real Estate, Criminal Defense
Education
New England School of Law,University of Massachusetts, Boston
State Licensing
Massachusetts, New Hampshire

Steven J Murphy
(617) 325-4489
1646 CENTRE ST
WEST ROXBURY, MA
Specialties
Criminal Defense, Business, Litigation, Estate Planning, Real Estate
Education
Suffolk University Law School,Stonehill College
State Licensing
Massachusetts

Michael Fray Suarez
(617) 442-6800
1596 Blue Hill Avenue
Mattapan, MA
Specialties
Personal Injury, Divorce, Criminal Defense, Estate Planning, Real Estate
Education
Western New England College
State Licensing
Massachusetts, Texas

Ariel J. Strauss
(617) 573-9598
96 COLUMBIA ST
BROOKLINE, MA
Specialties
Real Estate, Criminal Defense, Estate Planning
State Licensing
DC, Massachusetts

Ralph R Bagley
(617) 242-7500
124 MAIN ST
BOSTON, MA
Specialties
Litigation, Family, Employment, Estate Planning, Mediation
Education
Boston College Law School,Boston College
State Licensing
Massachusetts

Insuring Living Trusts

Provided by: 

  • Only the trustee can own or control real property for the trust
  • A title company requires some paperwork for trusts holding titles
  • A trustees actions are limited by the trust agreement

    Living trusts have become more and more common in recent years as a way to avoid the arduous probate process. Trusts can hold real property like individuals do, but there are a few differences in the way title companies insure trusts, as opposed to individuals.

    Trusts are agreements that allow a trustee (who is named in the agreement) to administer the assets of the trustor (the creator of the trust) for the use and benefit of the trust’s beneficiaries (who are named in the trust agreement). The trustee has power over the trust and is the only person who can make decisions for the trust, including acquiring or conveying interest in real property. The trustee’s powers over property can be no greater than those originally laid out in the trust agreement.

    Title companies require some paperwork in order to insure a property held by a trustee on behalf of a trust. This paperwork is to ensure that the trust and the trustee’s holding of the property are valid. A certification of the trust is required with the following information:
  • Date of execution of the trust
  • Identities of the trustor and trustee(s)
  • The trustee(s)’s powers
  • Identity of any person who has the power to revoke the trust
  • Signature authority of the trustee(s)
  • How the title to the trust assets is to be taken
  • Legal description of the trust’s interest in the property
  • Statement that the trust has not been modified, amended, or revoked in a way that would affect the previous elements in the certification and that all current trustees are signing the certification.

    Under some trust agreements with multiple trustees, one of the trustees can apply for title insurance without the others’ approval. For this to be allowed, it must specifically be stated in the trust agreement. This is also the case with power-of-attorney – a trustee can give someone power of attorney for the trust only if specifically allowed to do so.

    If all of the trustees die or are unable to act, and the trustor is either unable to appoint a new trustee, or is prohibited from doing so by the trust agreement, a court can appoint a new trustee.

    Nearly anyone can be a trustee. The only requirement is that he/she is not under legal disability. Many corporations can also be trustees, but they must first qualify to do trust business within the state.

    If a trustee is holding property on behalf of a trust, the title’s wording will be worded to reflect this fact.

    There are not too many difference in title insurance requirements between property held by individuals and property held on behalf of trusts. There is a bit more paperwork involved, but this is relatively minor. Trustees are constrained by the trust agreement in managing the property, so there is little worry for the title company in issuing the insurance.

    Visit Homesalesnetwork.com for more information