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is it possible for a trust, with a Filipino trustee, to buy and hold real property in Philippines?
can a trust created under the laws of the Philippines, with a Filipino citizen as trustee, buy and hold real property located in the Philippines?
2 Answers
- ReneeLv 45 years ago
No, the trustee named in a deed acts in a fiduciary capacity for the named trust and its beneficiaries. The trustee named on the deed just happened to be the trustee during the most recent purchase/gift of the property. If you are the new trustee of the trust, you can sell the property, but only under terms of the trust, and after proving you have the trustee power.
