Trust Agreements - Posted by Colleen

Real Estate Investing
1

Posted by Lynn Hahn on October 24, 2000 at 22:37:56:

Dear Confused Colleen (I like that) :wink:

I’m assuming that you are taking a property subject-to so please forgive me if I’m wrong.

The purchase agreement can be in your name or the name of an entity that you are using. You can specify that title will be taken in the name of a trust.

The people who you are buying the property sign a deed that deeds the property to your trust. This deed is recorded.

Your trust should have places for everyone else to sign.

Your trustee doesn’t have to attend the closing. For instance, our trustee is out of state and we mail the documents to him for a signature after the closing.

If you don’t already have a course on this subject, then you should consider buying one. It would be worth the expense. I recommend William Bronchick at http://www.legalwiz.com

Happy Investing!
Lynn Hahn

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Trust Agreements - Posted by Colleen

Posted by Colleen on October 24, 2000 at 18:36:06:

Can someone out there answer this newbie’s questions??

I need a run down on who should sign what and where.

For instance, do I sign the Purchase Agreement with my name, then have my Trustee sign the Deed from the Seller and take title in the name of my trust??

Does my Trustee attend the closings??

Then do I have my Trustee sign a Warranty Deed to Trustee, and do I record this Deed or the Deed from the Seller, or both??

I would have closed on a couple houses now but want to make sure I got my butt covered!!

Thanks for any responses.

Confused Colleen