QUESTION
Because we are joint trustees doesn't he have to have both our signatures?
Asked on Jun 22nd, 2013 on Estate Planning - Delaware
More details to this question:
My sister and I are listed as co-trustees jointly under our father's trust which holds his house. He has dementia and we are trying to sell the house. The realtor only has my sister sign contracts with his company.
18 ANSWERS
It depends on the language of the trust. Joint trustees usually both are required to sign, but if the trust authorizes one signature, it would govern.
Answered on Jul 05th, 2013 at 4:47 PM
You have to read the terms of the trust agreement. Both trustees have a right and a duty to know what is happening and approve the transaction. If you do not agree, you will probably need an attorney to assert your rights. You can contact the real estate broker and let her know your concerns.
Answered on Jun 25th, 2013 at 12:59 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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Realtors are often sloppy about such things. First, check the trust agreement does it say either co-trustee may act without the agreement of the other? Even if it does, it is likely that the title company will insist on both of you joining in the actual sale documents. This may leave your sister over a barrel, if she has signed an agreement to sell the property, and then can't do so.
Answered on Jun 25th, 2013 at 12:54 PM
Admiralty / Maritime Attorney serving Monrovia, CA
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The Law Office of Nathan Wagner
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The signature of just one co-trustee may be enough. The Trust Agreement will spell out whether the signature of both co-trustees is required.
Answered on Jun 24th, 2013 at 7:56 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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The Realtor is in danger of incurring liability on this. The only safe course is to have both of you sign everything.
Answered on Jun 24th, 2013 at 7:56 PM
Yes joint trustees together have control of the property and the proceeds. Of course, the trust document would have to be studied to see if a single trustee can sell. I don't think that was the intent of your father.
Answered on Jun 24th, 2013 at 7:56 PM
General Practice Attorney serving Portland, OR
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Furniss, Shearer & Leineweber
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It depends on the lanquage of the trust agreement. Many times the lanquage provides that either trustee can sign to avoid the problem of having to get both signatures each time.
Answered on Jun 24th, 2013 at 7:55 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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It depends of the trust documents. Are you and your sister having disagreements?
Answered on Jun 24th, 2013 at 7:55 PM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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You will have to look at the terms in the trust instrument. If the trust authorizes one trustee to act, then that would be legal.
Answered on Jun 24th, 2013 at 7:55 PM
Business Law Attorney serving Livonia, MI
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Gerald A. Bagazinski
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Both signatures may be required depending on the terms of the trust.
Answered on Jun 24th, 2013 at 2:32 PM
Depending on how the trust is set up, one person's signature may be sufficient to bind the trust to an action - in this case, hiring a realtor to show the house. When it comes to actually selling the property, you both may need to sign the document(s).
Answered on Jun 24th, 2013 at 2:26 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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You need to look at the terms of the trust as to whether both signatures for any trust administration are required. Maybe your sister holds a power of attorney, if so then she can sign all documents on the trust behalf. You need to watch that she deposits sale proceeds into trust account and manages said funds on behalf of your father.
Answered on Jun 24th, 2013 at 2:20 PM
3 Awards
You need to consult the trust's terms to see what is required. It may be either one signature or both, again you need to see what the trust requires.
Answered on Jun 24th, 2013 at 2:19 PM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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This partly depends on the terms of the Trust. Probably, you will both need to sign the deed, and likely some other papers. But a listing agreement probably can be signed by just one, if you both are in agreement.
Answered on Jun 24th, 2013 at 1:46 PM
Thomas Edward Gates
If the Trust list you both as Co-Trustees, both signature are required. Make sure you have the right, as specified in the Trust Agreement, to sell the real property. Equally important, is the party entitled to the proceeds.
Answered on Jun 24th, 2013 at 1:32 PM
Probate Attorney serving New Orleans, LA
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James G. Maguire
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If you are co-trustees, both of you would have to sign any transfer of ownership of the property.
Answered on Jun 24th, 2013 at 12:49 PM
2 Awards
Yes you both should sign. Your sister and the realtor will run into trouble when they ask for a copy of the trust and see your name as co-trustee.
Answered on Jun 24th, 2013 at 12:37 PM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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Sometimes the Trust instrument allows only one trustee to sign things so you would need to review the trust agreement to see if you have that power to act alone for signatures on documents.
Answered on Jun 24th, 2013 at 12:23 PM