What Is The Role Of The Trustee
Hello,
What is the primary role of the Trustee if a purchase of a property is made sub to through a land trust. thanx........and........can the trustee be ANYONE....family member (son, daughter)?
The duties of the trustee are both granted and limited by the language in the invidiual trust agreement. Typically the trustee holds title to the property until directed to do something by the beneficiary of the trust.
The trustee can be anyone.[ Edited by jeff12002 on Date 10/12/2005 ]
thank you Jeff. is there an age requirement on how old the trustee has to be? Just curious
It is my understanding the beneficiary with 100% interest can also be the trustee. Is this correct? Also, can I also list the "trustee" as "3400 Main Street Land Trust"?