Posted by Jim IL on January 16, 2000 at 21:58:04:
In my humble opinion, “owning” the home, (actually the trust that owns the home) is WAY better than just controlling it.
This allows you to sell the home however you want, and many other advantages.
You now have ALL the tax advantages. You can deduct the interest paid on the loan and the RE taxes.
You can sell the home using a L/O, Land contract, a wrap, and any other way you see fit.
That is pretty much how I see it.
Not too mention, some people just plain like to be able to say, “I OWN this home”. (I know in my newbie mindset I still do.)
I’m sure there are other advantages here as well, someone else will surely point them out.
But, for now, thats all that comes to my mind.
Hope this helps,