sub2 trustee - I'm blind - Posted by Steve-WA

Real Estate Investing
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Posted by Russ Sims on September 24, 2003 at 12:31:16:

keep in mind that when your buyer gets financing for the home that you purchased ‘subject to’, the closing agent will give a check for the proceeds of the sale to the trustee. It’s the trustee’s responsibility to disburse the funds to the beneficiary. So you really don’t want the funds going to anyone that you don’t have direct control over. I often make myself or some individual in my company the trustee, and my company the beneficiary. This way I get the funds at closing and then ‘distribute’ the funds to my company. Has worked just fine for dozens of transactions…
Russ

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sub2 trustee - I’m blind - Posted by Steve-WA

Posted by Steve-WA on September 24, 2003 at 12:05:01:

Courses say that to keep privacy (litigative protective layer), name a dissimilarly-named relative or trusted friend as the trustee.

Wondering if this is overkill - how many of us DO this this way? Any lessons learned that made you START doing it this way? Do most of us just name our corp/LLC, or ourselves Trustee?

I just cannot see mixing business with friendship/family this way -

help me to see