InnoVest's Foreclosure Forum
Ward takes the stairs.

InnoVest Resource Management's

Foreclosure Forum

Home

Discussion Board

"Hands-On" Training

Title Holding Trust

Annual Reunion

Speaking Schedule

Store

Foreclosure Fundamentals

Code References

Recent Legislation

50 State Foreclosure Basics

Foreclosure Glossary

Foreclosure Statistics

75+ Yrs Interest Rates

Fillable Forms

Archived Articles

Dingbat Retirement Plan

Links

Booklist

Contact / Map | Priceline Tips

About Us

Home

 

Innovest Resource Management BBB Business Review

All states except Wisconsin, Tennessee & Louisiana...

March 09, 2016 08:36AM
Quote
Island Time
Does anyone happen to know which states recognize the title holding trusts? They have been a great tool for me in California. I am wondering if they will work in other nearby states such as Oregon, Utah etc.

Thanks!


========

With the exception of Wisconsin, Tennessee and Louisiana, all other states are permissive in the use of the title holding trust to hold title to real property. Some states such as Florida, Illinois, Hawaii, Georgia and Virginia actually have enacted land trust statutes that deal exclusively with the trust and its use. A synonym for the land trust is the more modernly used reference...the "title holding trust".

Some states have quirks in the use of the trust. For example, in Arizona it's required to name the beneficiaries of a trust on the the face of the deed that transfers real property into the name of the trust. So it's common there to list an entity as the initial beneficiary of your trust.

What's more common with the use of the title holding trust is that occasionally a title company involved in a transaction will require more documentation than usual regarding your trust. So usually it's a simple fix to provide the extra paperwork, or alternatively, go title company shopping.

I don't like the spectre of such last minute surprises or hangups, so I insist on using my local title company on all deals I'm involved in.

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

==============================
Subject Author Views Posted

which states in U.S. honor the title holding trust

Island Time 779 March 08, 2016 05:03PM

All states except Wisconsin, Tennessee & Louisiana...

Ward-CA 575 March 09, 2016 08:36AM

Re: All states except Wisconsin, Tennessee & Louisiana...

Island Time 487 March 09, 2016 10:37AM



Sorry, only registered users may post in this forum.

Click here to login

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2017, InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455