InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Title Holding Trust / Liability protection Posted by Sean Wagle on March 31, 2002 at 11:27 AM (Making the best use I can of the archives!) Ward, you made the following statements back in November: >The trust is often chosen because of it’s privacy. It isn’t >registered or recorded anywhere, whereas all other entities >require the use of formation documents. and in another message: >Please note that you never, never, never, never, never record >any trust, any time, anywhere. OK. I'm assuming what you meant was that you never record transfers of beneficiary interest-- right? When the property is deeded into the trust, that deed MUST be recorded at the courthouse. Therefore at least the name of the trust exists in public records. (Or are you implying the property is deeded to the trustee of the trust, not the trust itself?) Also, another quote (about liability issues): >I also like the appearance of existing liens against the >property. But I champion the use of a large equity line of >credit with a bank, like Wells Fargo, that encumbers your >property up its full amount, whether it’s being used or not. >There’s no interest or payments to worry about if the balance >owed is currently zero, right?? You're implying then, that these empty credit lines would "scare away" potential future liens? That someone might do a title search on your property, and conclude "It's not worth it, my position would be too low to ever collect." (Maybe I'm being really anal here-- but I can sense these are important points and I'm trying to make sure I understand.) Follow Ups: Title Holding Trust, Course 101 Ward-CA- 1:40 PM, 03/31/02 (1) Re: Title Holding Trust, Course 101 Sean Wagle 10:18 PM, 03/31/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : (Making the best use I can of the archives!) : Ward, you made the following statements back in November: : >The trust is often chosen because of it’s privacy. It isn’t : >registered or recorded anywhere, whereas all other entities : >require the use of formation documents. : and in another message: : >Please note that you never, never, never, never, never record : >any trust, any time, anywhere. : OK. I'm assuming what you meant was that you never record transfers of beneficiary interest-- right? When the property is deeded into the trust, that deed MUST be recorded at the courthouse. Therefore at least the name of the trust exists in public records. (Or are you implying the property is deeded to the trustee of the trust, not the trust itself?) : Also, another quote (about liability issues): : >I also like the appearance of existing liens against the : >property. But I champion the use of a large equity line of : >credit with a bank, like Wells Fargo, that encumbers your : >property up its full amount, whether it’s being used or not. : >There’s no interest or payments to worry about if the balance : >owed is currently zero, right?? : You're implying then, that these empty credit lines would "scare away" potential future liens? That someone might do a title search on your property, and conclude "It's not worth it, my position would be too low to ever collect." : (Maybe I'm being really anal here-- but I can sense these are important points and I'm trying to make sure I understand.) 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

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.

Copyright © 1997-2002, InnoVest Resource Management

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