Can a Trust and a person share title to a property?

Question

My property is owned by my Trust. I'd like to give to transfer title so that half is the Trust and the other half is in my daughter's name. Is this ok?

Answer 1

NO NO NO NO NO ! her custodial parent can take the trust to court and force the sale and or for you to do a buy out ~  this happened to a friend of mine in NY her mom and dad got a divorce and the trust along with a  Nasty lawyer and her mom the trust was broken and she (the mom) forced the sale of the property which he(the father) bought back Thur a dummy corporation. But still he had to re buy it and then he said right that before his death that he plans to resell the property to his daughter    the paperwork is already been processed and awaits her $1.00 payment to avoid inheritance taxes.  

Answer 2

This is ok title can be held by any legal entity, to include corporations, living trust or any type of trust.

When you make this transfer make sure you utilize a title company to accomplish this. You might use a quit claim deed, but using a title company might solve potential legal problems.

You will find a title company in your local telephone book.

You might also check with you tax consultant for any tax consequences that might arise from this transfer.

I hope this has been of some use to you, good luck.

"FIGHT ON"