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Old November 4, 2012, 01:31 PM   #19
Aguila Blanca
Senior Member
 
Join Date: September 25, 2008
Location: CONUS
Posts: 6,212
Quote:
Originally Posted by AH.74
As a beneficiary of a trust, he may indeed be considered as a partial owner of the property held by the trust.
He may ... or he may not.

As a beneficiary of a family trust that has been in existence for more than 50 years, I live in a house that is on land owned by the trust. I am a beneficiary of the trust -- I am NOT an owner of the land. I am not even a partial owner. The trust is the owner, and it is a legal entity unto itself.

In my case, however, it is my only residence, my motor vehicles are registered at this address and I pay taxes on them, I pay all utilities, and I am registered as a voter at this address. There has never been any reason for my residence to be in question.
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