Trust Agreement
Residential Property Trust Agreement
1. Agreement Introduction
This Trust Agreement, effective as of 1st of January, 2022 is made by and between John Smith, of 3646 Broadway St., Hilton Head, SC 29926 (hereinafter referred to as the “Grantor”) and 633 Eagle St., Hilton Head, SC 29926 (hereinafter referred to as the “Trustee”).
2. Trust Property
The Trust property is a residential property located at 2289 Canis Heights Drive, Los Angeles, CA 90071. The said property shall henceforth be held in trust by the Trustee, pending the fulfillment of specific conditions set forth by this Trust Agreement.
3. Conditions and Terms
The Trustee shall hold and manage the Trust property until the beneficiary reaches adulthood, according to the laws of the state of California, which is dictated as being 18 years of age. Upon the beneficiary reaching this age, the full ownership and rights of the Trust property shall be transferred to the beneficiary.
4. Trustee Responsibilities
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The Trustee promises to administer the Trust property in a prudent and responsible manner until the beneficiary becomes legally capable of owning and managing real estate property.
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The Trustee has the duty to protect and maintain the Trust property, within reasonable bounds, to ensure that the property does not depreciate in value.
5. Amendment Provisions
This Trust Agreement may only be amended, altered, or revoked by a written agreement signed by both the Grantor and the Trustee.
6. Governing Law
This Trust Agreement shall be governed by and construed in accordance with the laws of the state of California.
IN WITNESS WHEREOF, the Grantor and the Trustee have executed this Trust Agreement as of the date first above written.
Grantor: John Smith ______________________________________
Trustee: Mina Smith ______________________________________
