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Updated over 6 years ago on . Most recent reply
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If a Trust Can't be Party to Contract, How Are Owners Confirmed?
"A Trust name is not party to a contract, it is not a legal person as a corporation is. The Trustee is the proper signatory. "
Well this properties deed is under "Spratling Living Trust". There are three co-owners with 3 different last names.
So how does escrow/title company know that these 3 are the three owners of this trust? How is ownership confirmed?
Should the trust name be anywhere on the Purchase contract?
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A trust is an entity. You are confusing the trustee and the beneficiaries. Consider the beneficiaries as owners of the trust. The trust owns the property the trustee signs the documents. if directed by the beneficiaries or director of the trust the trustee will distribute the funds to the beneficiaries based on percentage of ownership.