Question for Texas sub2 investors using a trust - Posted by Kyle

Real Estate Investing
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Posted by Terry (Houston) on April 28, 2006 at 01:14:16:

Most want a copy of the trust and the good ones want a copy of the Letter Of Direction from the Beneficiary instructing the Trustee to sell.

Most will call with a few questions and not really know what the trust does so be ready to walk them through it.

Make sure you are you able to pick the title company. I tell them if I am paying the title policy I am picking… period. That since the house is owned by a trust that is has to be taken care of in a specific way and we don’t want to delay the closing right?

If so I know a few that I work with I have “trained”.

Terry

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Question for Texas sub2 investors using a trust - Posted by Kyle

Posted by Kyle on April 25, 2006 at 21:45:00:

Hello - Can anyone tell me the paperwork a title company will be looking for if I want to sell a property (Houston area), currently in a trust, that I bought subject-to?

Here in Colorado (I rented it and moved shortly after the purchase a couple years a go), they specifically ask for 2 things: a copy of the trust and a ‘statement of authority’ signed by the trustee.

Is that the same in Texas? Any insight will help - thank you.