Upon the death of the Trustee or some later date? The only asset of the Trust is a Patio Home. It has been rented for the last three years and was "Grandfathered" by the HOA two years ago when the Deed Restrictions were amended to prohibit renting the individual units. One of the limitations to the Grandfather exemption is that when ownership changes the unit must be sold within one year.
In your case, the ownership does not change just because the trust becomes irrevocable, the trustees change, or the beneficiaries change. Only upon the termination of the trust would the ownership of the property change, unless the trustee distributes the ownership of the condo to one or more of the beneficiaries in accordance with the trust terms.
Ask the attorney that prepared the trust.
As for the unit, if you leave it in the trust after the trustee dies then the unit will not have a change of ownership (until taken out of the trust) since it's technically owned by the trust, only the trustee of the trust changes. The trustee of any trust does not own the property given to the trust, they simply manage it.
THEN you go on to say that the HOA grandfathered in the patio home to allow rental. That grandfather provision would apply as long as ownership didn't change. Okay, and that's that.
Then you go ON to say that the grandfather provision requires the home be sold within one year of ownership change. And there's lies the rub. That makes no sense. More info please.