Posted by Glenn on December 29, 1999 at 10:20:27:
I have used it to sell my house. Buyers were in 3rd year of bankruptcy payoff. I had planned to do a land contract, but BK trustee disapproved even though it would provide them with better after tax payments. While waiting for trustee to approve, I found the PACTrust through this site. This is the perfect solution - recording is silent as far as resident are concerned, DOS clause is not violated, buyer’s rights are legally limited to stated lease rights, buyer’s entanglements can’t affect property, if buyer can’t pay it becomes simple lease eviction, etc.
I Strongly recommend it.