Should I be paying rent to a trust if the property is in a trust?
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Should I be paying rent to a trust if the property is in a trust?
The house i live in is in a irrevocable living trust and has been since 2007. I have been paying the original owner of the property rent since 2004. Should I be paying the trust instead? Is it legal to pay rent to someone who legally doesn’t own the property anymore?
Asked on February 3, 2017 under Real Estate Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
Rent is owed to the owner of property, or to whomever the owner designated to receive it. Property in an irrevocable trust is owned by the trust; the original owner has no ownership right or interest. The rent should there be paid to the trust, unless the trustee designates someone else in writing to receive it.
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