Who actually owns a property when it is in a living trust?

Frequently, when you create a trust, you will transfer certain of the property to the trust. An example is your house. You’ll sign a grant deed transferring your house from you as an individual to you as trustee of your trust, as the creator of the trust, what’s sometimes called the grantor, you have complete control over the trust to change it, modify it, or dissolve it, or revoke it.

So when you talk about who owns property, there are actually two types of title. There is legal title, and then there is equitable title. Legal title is whose name is on the deed or who has ownership of the property. Equitable title is who receives the benefit of the property.

And so, with a revocable living trust, if you were to transfer your house to the trust, legal title would be owned by the trust, but equitable title would continue to be owned by you as an individual.

And again, remember, with a revocable living trust, you always retain the ability to modify the trust if you change your mind in the future.

Quick Question Corner is a video segment where we answer common questions about estate planning and elder law. If you have similar questions, leave them in the comment section and we can feature them in one of our videos in the future.

Watch Videos about:

Search Videos:

750 F Street, Suite 2
Davis, CA 95616

333 University Ave, Suite 200
Sacramento, CA 95825

3017 Douglas Blvd, Ste 300
Roseville, CA 95616

288 Pearl Street
Monterey, CA 93940

San Antonio
18756 Stone Oak Pkwy, Ste 200
San Antonio, TX 78258

We operate on an appointment-only basis other than our Davis office.

Skip to content