I am the trustee for a family trust. Can the trust purchase a property? Can the trust be named as the purchaser on the contract? This is in IL. Thanks

Question: Can an existing trust purchase property? Answer: There are several types of trusts.  These different types of trusts have different names and different purposes.  For instance there are Living Trusts vs. Testamentary Trusts. A living trust (or inter vivos trust) becomes effective during the grantor's lifetime; while on the other hand, a testamentary trust does not become effective until after the testator's (person who made the will or trust) death. There are also Revocable Trusts vs. Irrevocable Trusts.  A revocable trust reserves  the grantor the right to revoke the trust after it becomes effective, including the right to change any of the terms or provisions of the trust, then the trust is said to be a "revocable trust." If the grantor gives up the right to revoke the trust after it becomes effective, including the right to change any of the terms or provisions of the trust, then the trust is said to be an "irrevocable trust." Every trust is established for a specific purpose, and that purpose will dictate the form and the basic provisions of the trust.  The provisions of the trust will dictate whether property may or may not be purchased. An attorney would have to review the terms of the trust to determine if the trust allows the purchase of property. If you are seeking an attorney to assist you please contact Attorney Cathe Evans Williams of The Evans Williams Law Group at 708-991-7110 if you have any additional questions.