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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Title Holding Trust, Course 101 Posted by Ward-CA- on March 31, 2002 at 1:40 PM In Reply to: 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.) =•=•=•=•=•=•=•=•=•=•=•= Sean, what I meant was that you never record a trust agreement. The recording of a deed, which transfers title of property into the name of a trust, shouldn’t be construed as the recording of that trust’s agreement. All the recording of such a deed would disclose is the name of the trustee and the name of the trust. So if you’re not your own trustee and you name the trust after the street the property is situated on your name won’t appear in the public record as far as that property is concerned. And of course, now that you bring it up here in your post—you never record the transfer of a trust’s beneficial interest from one party to another. That’s because it’s a personal property interest, not a real property interest. You ask what I meant to imply in an earlier post. What I implied is make things look like there’s not enough free equity to make it worth while getting a judgment that can’t be readily collected. Sean, I have a suggestion, come take my 5 hour, one-on-one trust class. We’ll tear a trust apart and then put a real one together for you. Follow Ups: 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.) : =•=•=•=•=•=•=•=•=•=•=•= : Sean, what I meant was that you never record a trust agreement. The recording of a deed, which transfers title of property into the name of a trust, shouldn’t be construed as the recording of that trust’s agreement. All the recording of such a deed would disclose is the name of the trustee and the name of the trust. So if you’re not your own trustee and you name the trust after the street the property is situated on your name won’t appear in the public record as far as that property is concerned. : And of course, now that you bring it up here in your post—you never record the transfer of a trust’s beneficial interest from one party to another. That’s because it’s a personal property interest, not a real property interest. : You ask what I meant to imply in an earlier post. What I implied is make things look like there’s not enough free equity to make it worth while getting a judgment that can’t be readily collected. : Sean, I have a suggestion, come take my 5 hour, one-on-one trust class. We’ll tear a trust apart and then put a real one together for you. 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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