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 ] We use a simpler approach Posted by Ward-CA- on April 10, 2002 at 4:44 PM In Reply to: NARS PACTrust posted by Mike on April 10, 2002 at 7:57 AM : Hi Ward, I just got an email from a solicitor using land trusts to create a business. Can you take a look at it and let me know what you think of this persons business plan? =•=•=•=•=•=•=•=•=•=•= Mike, the pactrust is a more convoluted approach and thus much more expensive alternative to just using a simple title holding trust (used to be called land trust). The simpler course we’ve been using for years, with perfect results, is to have the defaulting owner transfer their property to their trust, notify the lender and insurance company of such, and then sell the beneficial interest in their trust to the new buyer using a notarized, but non-recordable Assignment of Beneficial Interest form. Follow Ups: PACTrust versus regular trust Jessica Allen 8:11 PM, 07/19/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward, I just got an email from a solicitor using land trusts to create a business. Can you take a look at it and let me know what you think of this persons business plan? : =•=•=•=•=•=•=•=•=•=•= : Mike, the pactrust is a more convoluted approach and thus much more expensive alternative to just using a simple title holding trust (used to be called land trust). The simpler course we’ve been using for years, with perfect results, is to have the defaulting owner transfer their property to their trust, notify the lender and insurance company of such, and then sell the beneficial interest in their trust to the new buyer using a notarized, but non-recordable Assignment of Beneficial Interest form. 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