Posted by B.L.Renfrow on February 28, 2001 at 23:29:14:
True, the deed is recorded in the trustee’s name, but nowhere is MY name associated with the trustee – except on the assignment of beneficial interest.
I have this paranoia – maybe justified, maybe not – about some seller having second thoughts down the road, going to the clerk’s office and plugging my trustee’s name into the computer, or taking all the documents to his attorney…who then ends up searching the public records for my trustee’s name, and comes up with a bunch, since I use the same trustee for several deals. Although I always explain to my sellers who “John Doe as Trustee” is when they sign the documents, you can bet they’re not going to remember that trustee’s name down the road.
As it stands now, no one besides me and my attorney know who my trustee is, and I don’t really want that name floating around in the public domain, associated with my name. But then, I probably should be using a corporate entity for my trustee anyway.