Hello, I read your FAQ on insurance several times but I\’m still not 100% sure what exact name is.
When getting insurance does the Exact Trust name include Trustee name?
My deed reads Trust No. 1027 Main st land trust, dated 5/28/2019, Scott Smith as Trustee with full power…….
so for insurance should it be; Named Insured: Trust No. 1027 Main st land trust, dated 5/28/2019, Scott Sadlon as Trustee
if not then what?
You FAQ Says, the named insured is very important at the time of a claim. If the exact name of the land trust is not reported to the insurance company then they can deny the claim when a covered loss occurs. Make sure the name of the Land Trust is an exact duplicate of the named insured on your insurance policy.
The named insured on the policy should be the Trustee and the name of the trust.
You mentioned in your question that your deed reads, “……… Scott Smith as Trustee with full power……..” This does not sound like a land trust to me. Land Trust trustees do not have “full power” to do anything unless directed (in writing) by the beneficiary/holder of the power of direction. Make sure you are dealing with a true land trust.