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Swapping the ownership of a trust deed for a partial ownership of a title holding trust

February 06, 2016 04:19PM
Quote
ocalcala@gmail.com
I have a property in a tht and I'm the trustee. I took private loans on a different propertie. I have proposed to the note holder that I'd give him a piece of the trust in exchange for balance on the note on Property a: thus eliminating the TD that goes with the note and reconvening the interest back to me.

In a nutshell i want to eliminate the loan on property a for a piece of a trust that holds property b.

How do I go about doing all this and making sure title on property a is cleared at the end?

Thanks

Oz

Extinguish the beneficial interest in a deed of trust for a partial ownership of the beneficial interest in a title holding trust (THT) by:

Step 1 – Figure out the current balance owing on the trust deed to be extinguished (via the recording of a Reconveyance of the trust deed).

Step 2 – Determine what the current value of all the assets in the THT is (that comprise the beneficial interest in the trust).

Step 3 – Divide the value of Step 1 by the value of Step 2 to arrive at the percentage of the total beneficial in the THT that should be transferred (via an Assignment of Beneficial Interest in Trust) to the owner of the trust deed

--------------------------Ward

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Subject Author Views Posted

Title holding trust question involving multiple benes

ocalcala@gmail.com 3375 February 03, 2016 07:57PM

Swapping the ownership of a trust deed for a partial ownership of a title holding trust

Ward-CA 2578 February 06, 2016 04:19PM



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