Kingston, TN asked in Real Estate Law for Tennessee

Q: What documentation from a revocable trust document must be included with sale of real property in Tennessee?

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1 Lawyer Answer
Anthony M. Avery
Anthony M. Avery
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Answered
  • Knoxville, TN
  • Licensed in Tennessee

A: Assuming the Trust is conveying out: the Declaration of Trust; the Deed from all interested Parties in the Trust as Grantors must include the Settlor, Trustee, possibly the Successor Trustee, all Beneficiaries, all contingent Beneficiaries, and if any Party is a minor or incompetent, a Court Decree ordering the sale of the Minor's Interest. The Trustee needs his own attorney as he has significant fiduciary duties for which he can be sued upon. Representing the Grantee, I would also demand a sworn statement by the Trustee that all interested Parties in the Trust are named as Grantors. If there is a Residential Disclosure involved, I would also want all interested Trust parties/grantors to sign it, and the Sellers' Agent. If any Easements attach, then the Grantee should be very careful and possibly survey the same. Grantees incur significant risks in such transactions, and can easily be left with no remedy if there are title defects.

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