Transferring vehicles to a Trust requires that the vehicle title be changed so that the Trust is the owner of the vehicle.
Likewise, the obligation to pay (i.e. the loan) should also be transferred to the Trust, but doing so would require a separate loan or note to be executed with the lender who financed the vehicle.
In most cases, if the title is changed to reflect that the Trust owns the vehicle, as long as payments continue to be made on the vehicle, the lien holder will not take any action to repossess or take possession of the vehicle.
HOWEVER, we suggest that you contact your vehicle lender to determine the best way to handle this situation.
To create a Living Trust, see details on Standard Legal’s Living Trust legal forms software here.