Posted by BOB L (NY) on May 25, 2000 at 20:26:03:
THANX PHIL
“SUBJECT TO” AND THEN A TRUST…? - Posted by BOB L
Posted by BOB L on May 25, 2000 at 07:38:49:
When doing a “subject to” is it just smart or always necessary to do some type of trust???
THANX, BOB
Re: “SUBJECT TO” AND THEN A TRUST…? - Posted by phil fernandez
Posted by phil fernandez on May 25, 2000 at 08:00:17:
Bob,
I would definitely do the land trust every time you do a subject to deal. The big problem with taking a property subject to the existing mortgage is it triggers the due on sale clause in the mortgage.
Putting the property in the land trust with the accompanying beneficial interest will not be recorded.