Legal Question in Wills and Trusts in Florida
home left in trust to 5 children. Each own 20%. Does not say in trust that we have to subsidize anyone living in home. All 4 want to keep home for family down on luck.Can I sell my 20% if it is set up in a trust?
Asked on 12/19/11, 4:22 pm
2 Answers from Attorneys
Frank J. Pyle
Probate Attorney Throughout Florida
You may not sell any interest in the house, as it is owned by the Trust. You may, however, sell or transfer your beneficial interest in the Trust, thereby effectively transferring your 20% (and your interest in all other Trust assets).
Answered on 12/20/11, 9:12 am
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