Put your home in your trust

18 Apr 2024 · 1 min

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0:42

In this short informational video, the speaker explains that homeowners can place their primary residence— even if it is still under a mortgage— into a revocable living trust without triggering the mortgage lender’s due‑on‑sale clause, because federal law limits enforcement of that clause. Once the home is in the trust, a successor trustee can sell the property immediately after the owner’s death, allowing the transfer to heirs to bypass probate. The speaker also notes that heirs who later sell the home after receiving it through the trust will not owe capital‑gains tax on the appreciation. The video ends with a call‑to‑action directing viewers to the speaker’s newsletter.

Chapters

For most people, their home is the most important and valuable asset to have that they would put into their trust. And you can put your home in your trust without having to own it outright. So if you have a mortgage, you can still put it into your trust and your mortgage company cannot enforce its due-on-sale clause. There is federal law that prevents them from enforcing that clause. And when you have your home in your trust, it can be sold the next day after you die by your successor trustee. It will pass to your heirs outside of any probate court process. And if they sell the home after receiving it through your trust, they will not have to pay capital gains tax. Click on my picture and my link for my newsletter.