General Discussion
In reply to the discussion: Jimmy Carter sent home for hospice care, declines further treatment. [View all]Ms. Toad
(38,674 posts)A trust has a lot of purposes. It is a way of parceling out different interests in the property, and of providing continuity of legal title even when the owners of the beneficial interest die. My parents' farmland is all in trust - they are the sole beneficiaries, and have full control of the property (they are both trustees and beneficiaries). Having property in the trust, for them, is benecial because it eliminates the need for a probate in a different state when they die. That is likely similar to yoru family trust.
The Carters' use of a trust is different - they did it for purposes of transferring the managerial control, but not the equitable interest in the property.
But neither of those are the same as selling. Selling transfers both the legal and equitable interests to another party (in exchange for a payment).