Posted by Brent_IL on August 11, 2003 at 12:49:55:
The seller is the only one that can place the property in trust; they own it. You’re correct that you would buy the beneficial interest in the trust. If you are cashing out the sellers, put it in trust after you own it. There are forms the acknowledge that a trust is in eeistence. The most important documents are the agreements with the trustee. I’d get a RE lawyer, or get Bronchick’s or Gatten’s stuff if you want a starting point. Many of the posters whose opinions I value have reported that Louis Brown’s materials on trusts are excellent.