Re: What if his one man corp was the trustee? - Posted by Rob FL
Posted by Rob FL on December 15, 1998 at 20:06:16:
From a title standpoint (and this is based on FL law, so check the state’s laws which apply to you), this would not be a merger of title. As long as the trustee and the beneficiary are not the same entity. My personal residence is in a trust, I am the trustee and another trust is the beneficiary (and I am not the beneficiary of that trust either). No merger of title.
Re: What if his one man corp was the trustee? - Posted by Brad Crouch
Posted by Brad Crouch on December 14, 1998 at 22:22:37:
David,
Would this “one man corporation” by any chance be a Nevada corporation? As far as I understand, a California corporation requires three people to begin the corp., and two people to maintain it.
And if it IS a nevada corporation, would having the status of “trustee” for a California property fall under the catagory of “doing business in California”?
My understanding is that a Nevada corporation being a beneficiary of a Calif trust, has a “passive” role in personal property, and requires no registration of the “foreign” corporation. I am unsure how being a trustee in a Calif. land trust would be viewed by the State of California.
Can you help clear this up?
Brad