It’s not a trust. LP stands for Limited Partnership. It’s very uncommon to put a house in a Limited Partnership unless it’s a VRBO, or a private vacation home and the asset is owned and enjoyed by several limited partners. Typically LPs own multiple assets and include multiple members, and typically one General Partner. It’s semi-common to see a house placed in an LLC, particularly if it’s not a primary home, is an investment property, or it’s owned by another business. There are significant tax and liability advantages to setting up a limited partnership and placing an asset under its protection.