Posted by colvegas on November 28, 2005 at 15:31:28:
You can do it several ways but in my view the safest way is in using title holding land trusts. The seller would vest his title to a designated 3rd party trustee and you would be assigned beneficial interest by the settlor (seller). By using the land trust and structuring it legally you avoid any due on sale issues with the sellers lender and you give yourself numerous advantages such as tax writeoffs under IRC 163 h 4 (d).
As to the agreements you would use a trust agreeement, then a assignment of beneficial interest then a beneficiary agreement and a optional rider agreement if needed…
If you like more info on trusts email me at colvegas07@hotmail.com