Purchasing a home from your own family trust?
May 22, 2008 8:30 AM Subscribe
Can a person purchase a home from her own family trust?
Problem: my friend's dad died a few months ago and left his estate plus the family home in a trust set up for his 3 adult kids.
My friend and her sister want to buy the house from the family estate (their brother is against this and wants to sell it "as is" on the open market) but they are running into a problem as their lawyer and others say you can't buy a house from "yourself."
Can this be true? We live in Illinois. Thank you.
posted by Tullyogallaghan to Law & Government (12 answers total) 3 users marked this as a favorite