Bronson, FL asked in Real Estate Law for Colorado

Q: If a house was in a trust and the owner of the house sold it to buy another, would the new house go back into the trust?

The owner of the house also set up and controlled the trust. He did not put the house back into the trust.

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1 Lawyer Answer
John Roland Lund
John Roland Lund
  • Carbondale, CO
  • Licensed in Colorado

A: If the old house was in a trust then, when the owner (actually trustee) sold it, the property moved out of the trust and to the new buyer. If you, the owner, buy a new house, then you can direct that at closing the title to the new house be made in the name of the trust. To get the new house, or any other property into the trust, there needs to be documents transferring that property into the trust. You don't state the type of trust but I would guess it is an estate-planning trust of some kind. Be careful about possible tax implications.

Timothy Canty agrees with this answer

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