Posted by Erik on January 23, 2002 at 13:36:18:
Bob-
These are exactly the answers I was looking for. Thanks for your help
recording a land trust? - Posted by Eric
Posted by Eric on January 22, 2002 at 23:30:15:
I am taking property “subject to” and will create a land trust to hide the transaction. The beneficiary (seller) and my trustee will sign the “warranty deed to trustee.” Should this deed immediately be recorded? Or should I wait until I find a buyer? Also, does both the beneficiary and trustee need to be present when it’s notarized and recorded? I ask this because my trustee is out of state. Then, once the seller assigns beneficial interest of the trust to me… I then own the house, correct?
Re: recording a land trust? - Posted by Bob In Indy
Posted by Bob In Indy on January 23, 2002 at 09:56:53:
Hi,
We recommend recording the deed quickly. You own the home and to avoid any potential issues, you should ‘make a public notice’ by recording the deed.
The deed is signed by the seller and that signature is notarized. The trustee doesn’t sign the deed, doesn’t need to be present and so their signature on the deed isn’t notarized (it doesn’t exist). Neither the seller nor the trustee needs to be present when the deed is recorded. That’s a clerical function that can be handled in person or via mail…I do it in person.
When the seller signs the assignment of beneficial interest (about 20 seconds after signing the deed and the land trust agreement) you own the home.
The trustee does not have to be present with the seller when the seller signs.
Hope this simplifies the signing issues.
Bob Meister