Land Trust (Nuts and Bolts) - Posted by Justin

Real Estate Investing
1

Posted by WilliamGA on February 19, 2001 at 09:06:22:

Justin,

Get Bill’s Land trust course, that will answer all your questions about trusts and will also provide you with all the forms to take properties using a trust. Just be sure to run them all by an atty from your state.

Your questions…

  1. Title is transfered from the seller to the trust by a Warranty Deed. We use a special WD that has verbage specific to the trust and giving the trustee certain rights. You do not need a trust company to do this, or an atty even. Bill’s course will walk you through it.

  2. The seller assigns his interest in the trust to you by a form called “Assignment of Beneficial Interest”. Yes, it is a form that has the signatures of the assignor, the assignee and the trustee and it “should” be notarized in my opinion. I don’t think that is a requirement but I always have it done anyway just as a little “CYA”. I mean, the notary is there anyway so why not? Once again, no trust company needed.

Good Luck!

WilliamGA

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Land Trust (Nuts and Bolts) - Posted by Justin

Posted by Justin on February 19, 2001 at 05:24:42:

Hello,

I’ve been reading allot of archived articles and I know the basic function of the Subject to and the Land Trust. I have also read Bronchicks articles posted here on the site dealing with Land Trusts. I just have a few questions,

1>How do you Transfer title into a trust? Is it something formal you have to do through a trust company, or is it just a piece of paper filled out with names etc then notarized? If so where do you get this paperwork?

2>How do you have the seller assign over his beneficiary trust to you? Another form that is simply filled out and notarized or is it something formal you have to have done at the trust company?

Justin