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Updated over 1 year ago on . Most recent reply

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7
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Angie Zhang
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7
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Any one has any experience purchasing properties under trust?

Angie Zhang
Posted

Does anyone has any experience purchasing properties under trust? Any suggestions or tips to share?

Thanks in advance!

Most Popular Reply

User Stats

151
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114
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Joseph Palmiero
  • CPA
  • Pennsylvania
114
Votes |
151
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Joseph Palmiero
  • CPA
  • Pennsylvania
Replied
Quote from @Sam Yin:

@Angie Zhang

It is the same as purchasing in your name. I have done several. It has made ZERO difference in the paper work. In fact, I transfered over several into a trust after purchase as well.

Not 100% sure about this, but you just need to be the Trustor, Trustee, or both. Essentially, you are still the guarantor because you need to qualify for it unless you are buying all cash.

May be others may have a different experience.

This is true for most revocable trusts.  Generally, irrevocable trusts require a seperate tax return.  
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Palmiero CPA, LLC

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