Posted by Jaydee on November 18, 1998 at 21:21:58:
To all you people who have helped on this subject please accept my thanks ! Today I sat down with my attorney and discussed the wrap-around mortgage technique and everything appeared to make sense however a couple of points did come up which I hope someone can answer .
Firstly , the trust which the original seller creates and is subsequently the beneficiary ; should this trust not be an irrevocable trust so as to prevent the seller ’ changing ’ anything down the road ? Secondly , can the ’ quiet ’ assignment of benefits under the same trust not be contested some time in the future because it has not been recorded ?