How to Sell a Property Held in a Revocable Trust

by Charlie Gaston ; Updated July 27, 2017

A revocable trust is a trust that can be revoked, dispersed or altered once created. As a trustee of a trust, you can sell trust property back to yourself or a third party. You’ll need to appraise the value of the property and obtain a legally recognized instrument to document the transaction. As with any sale or purchase, it is best to store all trust documents in a trust portfolio for safe keeping.

Step 1

Print an "Agreement for Sale and Purchase" (see Resources). Identify the parties involved. The trustee of the trust is the seller. The party receiving trust property is the buyer.

Step 2

Provide a legal description of the property to be sold. Visit a county courthouse to obtain a legal description of real estate in your county of residence.

Step 3

Enter the property’s fair market value. Real estate, automobiles and other high value assets require an appraisal report from a certified appraiser. Visit the Kelley Blue Book website for online appraisals of vehicles (see Resources).

Step 4

Describe the nature of the transaction. For example, “For value received, the seller of [enter seller’s physical address, city, state, zip code], do hereby assign to buyer of [enter buyer’s physical address, city, state, zip code] the property described.” This kind of language is inherent in many forms.

Step 5

Sign and date the Agreement for Sale and Purchase in front of a notary public. Only a trustee can create and authorize an Agreement for Sale and Purchase.

Step 6

Relinquish the property to the buyer.

About the Author

Charlie Gaston has written numerous instructional articles on topics ranging from business to communications and estate planning. Gaston holds a bachelor's degree in international business and a master's degree in communications. She is fluent in Spanish and has extensive travel experience.

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