It gets more complicated if you own the properties inside of a multiple member LLC, partnership or irrevocable trust, etc.  

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.

When the grantor (donor) of the Living Trust dies, the Trust becomes irrevocable and the distributive provisions of the Trust dictate how assets get distributed.

I have a client who became the trustee for an irrevocable trust that owns two properties.

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.You will find cheerleaders promoting illegal actions.

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.Note it states they cannot advertise the property.

You can become a heir via last  will or a revocable trust or irrevocable trust where you will be a beneficiary.  

I have a property the was willed to family in a irrevocable trust to three family members.

Hi Everyone,Since I don't want to leave money on the table, can someone please give me the "in a nutshell" explanation to the following questions:1) Should I set up a revocable or irrevocable land trust on each property I plan to sell on Owner Financing or L.O?

There is no way for me to pay off this $500,000 debt BEFORE transferring and selling the property.I do not want to set up an installment sale with the buyer.Mortgage has due on sale clause, so a transfer of the title to the irrevocable trust would presumably violate the contract.Potential solution?