Does Nominee Realty Trust Pass Through Probate?
Question: Do nominee realty trusts have to go through probate? Response: Theoretically, yes, but in practice, no. To understand this distinction, we’ll have to start with an explanation of [...]
What are the Tax Implications of Owning Property in Nominee Realty Trusts?
Question: I just have three nominee trusts set up to hold rental properties. Not all major banks in Massachusetts provide realty trust bank accounts. So can I continue to use my own personal bank [...]
How Do You Report the Income on a Nominee Realty Trust
Question: Are Nominee Trusts (or Realty Trusts) revocable by nature? Since they don’t require a trust tax return at the end of the year, and it is my understanding that they are of [...]
How Does the Sale of Property Owned by a Nominee Realty Trust Work?
Question: Can you advise on how to dissolve a realty trust upon sale of the only realty property in the trust? My sister and I would like to have the buyer of the property issue checks to both of [...]
