Posted by Bud Branstetter on November 03, 2000 at 09:47:37:
If you are going to deed it to a new buyer and wipe out the old lien it doesn’t make a hill of beans difference. Your name would not be in public records. At closing the trustee would sign and have to provide your name and SSN to the title company for the 1099.
If you are selling without wiping out the old loan and using the standard subject to approach then you want to deed it to the land trust that initially shows them as owning the beneficial interest. The assignment of their interest is then a separate document. If you had to show the mortgage company the document you could send them only the initial document. Very unlikely that they would have the trustee certify that no transfer has taken place. You would not lie, just not volunteer information.
If you approached it using the PACtrust method the owner would retain some beneficial interest with a contract to forfeit at the end of the trust. Using this method would not violate the DOS because they do retain “A” interest in the trust.