Posted by DavidV on November 28, 2006 at 06:15:09:
Some states, as John mentioned, do require the trust ( or certificate of trust) to be filed to be legal. I live in MS and it is required here. However i know investors here that do sub2’s and never file the trust.
It would probably only matter if there were some type of litigation or probation. Most lawyers don’t know about trusts. I do know of one lawyer that refused to recognize a trust in probate as far as passing clean title for a guy out of state. Had to go through probate because his trust wasn’t recorded.
Posted by Tracey on November 14, 2006 at 22:01:36:
Does anyone know where to get Land Trust Forms at a decent price? And can they be copied for multiple use? And is it necessary to spend $200 everytime you file a land trust?
Posted by John Merchant on November 15, 2006 at 12:07:25:
Where and why would you “file” a Land Trust?
Sure, a LT would need to be recorded sometime if you & your LT wanted to sell to a 3d party and provide title insurance on it…but until then likely no real need to record the LT unless your state requires by statute.
Tons of good legal forms are to be found, free, at any & every county law library in the USA. Just ask the librarian on duty to show you the Form Book Sets and then find, read & xerox what you want.
Posted by Merrick on November 20, 2006 at 09:26:40:
Technically, you should never have to record the trust. When you’re planning on selling, or transferring the title you can simply fill out a 1 page affidavit of Trust that simply says, XXX trust exists, this is who the trustee is, etc… then file that document. The specifics of the trust are still kept private.
