In a Sale
What This Means When the House Is Being Sold
Trust documents are more explicit than wills on this point, and the language varies. Some require unanimous action. Some allow a majority where there are three. Some let any one trustee act alone for ordinary transactions and require all of them to convey real property, which is exactly the transaction at hand.
The title underwriter reads the clause and holds to it. Where one co-trustee has moved away, become unwell, or stopped responding, the trust usually contains a mechanism for resignation or removal, and using it is faster than waiting. That is a question for the attorney who handles the trust, and better raised before a property is listed.
Compare
Not to Be Confused With
- This TermCo-Trustee
- Often Mistaken ForSuccessor Trustee
- Often Mistaken ForCo-Executor
- Often Mistaken ForTrustee
What Tells Them Apart
Co-trustees serve at the same time as each other. A successor trustee serves after someone else has stopped, which is a sequence rather than a pairing. A trust can have both, with two people named to serve together after the original trustee. Co-executor is the probate equivalent of a co-trustee, and the two roles are governed by different documents.
Questions
Questions People Ask
Can one co-trustee sign a deed alone?
It depends on the trust. Some trusts allow any trustee to act alone, some require all of them, and many draw the line at conveying real property. The title company will read the trust before closing and hold to what it says. The trust's attorney can confirm in advance.
What if a co-trustee will not respond?
Trusts usually include a mechanism for a trustee to resign or be removed, and using it is often faster than waiting for cooperation. The right route depends on the trust's language and on the reason for the silence, which is a question for the attorney handling the trust.