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Title holding trust exempt from disclosures

October 13, 2011 11:12PM
Is it reasonable (and prudent) to utlitlize the Califorina Association of Realtor's "Trust Advisory" form to create an exemption from certain standard disclosures? According to the form, if the property is held in a trust (including land trust) and the trustee is not a natural person (must be LLC or Corp), then you are exempt from filling out various disclosures (mainly the TDS).

Since I don't visit many of the properties I acquire and flip, it seems the trust advisory would be a good way to get out of filling out disclosures for those properties I have not seen (and even properties I have seen). Of course, if I know of a material defect, then I still have a duty to disclose the material issue.

I am curious if others on the forum have been utilizing the trust advisory to reduce the amount of disclosures. Here is a link to the form:

[reebroker.com]

Thanks
Subject Author Views Posted

Title holding trust exempt from disclosures

Island Time 3552 October 13, 2011 11:12PM

Re: Title holding trust exempt from disclosures

Rick Harmon 2557 October 14, 2011 09:16AM

Re: Title holding trust exempt from disclosures

Island Time 2493 October 14, 2011 09:45PM



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