Posted by Jim LaVerdi (Phx_Az) on November 24, 2000 at 14:16:05:
GETTING THE DEED IS SIMPLE:
If you have a hard copy of the “Warantee Deed To Trustee” it’s just a matter of filling in the blanks, having the sellers sign it (notorized of course) and recording it! If you’re taking title into a trust you will appear nowhere on the deed. Your Trustee is who’s name goes on the deed (Hense: Warrantee Deed To Trustee) Always make sure you have had a title search done and title insurance purchased before you do this, or at least before you record it
Yes, the sellers are technically responsible for the debt and you should have your “CYA” letter signed by the seller(s) stating that they know this is the case at the time you purchase the house.
The Taxes & Insurance are all in your hands now. You are the legal owner. You pay them and you getr the benefits as well. Your “CYA” letter should state this also
Hope this helps
Jim LaVerdi (Phx_Az)