If a property is in a Trust and the Trustee chooses not to pay the mortgage is the credit of the Trustee affected negatively, The note on the property is in the name of the Trustor who has been deceased for three years.Property is in CA as is the Trustee of the Trust.
Country relating to Question: United States
State (if USA): California
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Good evening. It does not. The trust is a separate legal entity, the trustee simply acts on behalf of the trust, and the trustee has no personal liability for the debts of the trust. Thus, if the trust defaults on the mortgage, it has no impact on the trustee in any way. It's no different than if GM defaults on a loan....it in no way impacts an officer of GM.
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