What is a trust deed?
A trust deed is a legal document that is used to transfer ownership of real estate from a grantor (the person transferring the property) to a trustee (the person who receives the property), and eventually to a beneficiary (the person who will receive the benefit). Trust deeds are commonly used in Hawaii when it comes to inheritance law. When a trust deed is filed, it must include three key pieces of information: the grantor, the trustee and the beneficiary. The grantor is the person transferring the property, the trustee is the person who receives the property, and the beneficiary is the person who will receive the benefit of the property. The trust deed also includes the terms and conditions of the transfer. This may include the payment of taxes, fees, expenses and other obligations that the grantor and beneficiary must agree to. A trust deed is an important tool for those looking to protect their assets and ensure that their property is passed down to their beneficiaries in the way they intend. This document helps protect the beneficiary from any liabilities the grantor may have left behind. The trust deed is proof of ownership and acts as a contract between the grantor, trustee and beneficiary. It is a legally binding document that is enforced by the state of Hawaii.
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