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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Welcome on board...let's talk about foreclosures! Posted by kim miller on February 07, 2002 at 9:13 AM In Reply to: Welcome on board...let's talk about foreclosures! posted by Ward-CA- on April 04, 2001 at 7:05 AM Hi again. One more question I thought of. You mentioned that checking boxes H1 or H2 on the PCOR form causes the assessor NOT to reassess the property when a deed is recorded. Box H1 says that the transfer of property is to a trust for the benefit of the grantor or grantor's spouse and H2 says transfer is to a trust revocable by the transferor. In order for the trust to be for the benefit of the grantor or their spouse and revocable by the tranferor, doesn't the grantor (seller) have to be the beneficiary, at least initially? So, when purchasing property, would you have the seller sign all of the following documents: Title Holding Trust Agreement with seller as grantor, trustee and beneficiary Substitution of Trustee wherein seller substitutes buyer's choice of successor trustee Sale Agreement for sale of all beneficial interest in Title Holding Trust to buyer's choice of new beneficiary Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Hi again. One more question I thought of. : You mentioned that checking boxes H1 or H2 on the PCOR form causes the assessor NOT to reassess the property when a deed is recorded. Box H1 says that the transfer of property is to a trust for the benefit of the grantor or grantor's spouse and H2 says transfer is to a trust revocable by the transferor. In order for the trust to be for the benefit of the grantor or their spouse and revocable by the tranferor, doesn't the grantor (seller) have to be the beneficiary, at least initially? : So, when purchasing property, would you have the seller sign all of the following documents: : Title Holding Trust Agreement with seller as grantor, trustee and beneficiary : Substitution of Trustee wherein seller substitutes buyer's choice of successor trustee : Sale Agreement for sale of all beneficial interest in Title Holding Trust to buyer's choice of new beneficiary Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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