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Ely
Ely, Counselor at Law
Category: Estate Law
Satisfied Customers: 100053
Experience:  Fully licensed attorney in Texas in private practice.
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Can a trustee sell a house in an irrevocable trust dollar?

Customer Question

Can a trustee sell a house in an irrevocable trust for a dollar?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Ely replied 1 year ago.
Hello and thank you for requesting me. Please note: (A) This is general information and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms; and (B) the site allows experts to opt out of participation in phone calls and I may or may not be able to participate in this feature.
They CAN if the trust instrument allows them to do so specifically.
If not, then the Trustee HAS to exercise diligent and reasonable fiduciary duty while maintaining the trust, which includes not selling off assets for virtually nothing, of course. Again, the exception is if the trust instrument allows it, OR, this sale is being done to give the home to the beneficiary per trust instructions, and the $1 figure is just symbolic.
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