Legal Question in Wills and Trusts in Florida
Can FL real estate owned by a revocable trust be sold to a successor trustee without money changing hands?
2 Answers from Attorneys
Before responding to your inquiry with specific advice, it is necessary to read the full trust, since such trusts can provide for a wide range of options, rights, and responsibilities for trustees. I assume he term "without money changing hands" means the successor trustee did not pay cash for the property. If he paid no cash or other consideration nor agreed to a loan or mortgage, the transfer is a gift which may raise questions; however, one must review the trust in detail before reaching any conclusion regarding such matters. For example, is the trustee also the major beneficiary of the trust? Such issues are important.
Yes, but you must ask why.