Transferring Rental Property to Revocable Trust

[Ed Jerum]

Does anyone have any experience with transferring a mortgaged rental property to a revocable living trust, where the trust is created by the current owner and is also the trustee.  Does the bank holding the mortgage have to be notified? Should the bank be notified to avoid problems? Does the bank have the right to cancel the loan on the basis that this is a sale? Thanks 

[Jonathan Wilks]

In my experience with trust banks look at it more as a vehicle to secure the property through probate.

I have never heard of the bank needing to be notified or a bank canceling the loan. It is radically different from a LLC or a Corp.

One tip for a trust never place your name as the trust name always make it a something different.