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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Title holding trusts ARE extra work sometimes... Posted by Ward-CA- on May 10, 2002 at 7:58 PM In Reply to: Holding Trusts... posted by Alfred, Trainee on May 10, 2002 at 3:06 PM : Ward, : Does having one's rental property in a title holding trust create any problems later when one wants to refinance; or get an equity line of credit; or do a 1031 exchange? Thanks. ==================== Alfred, Yes, because you don’t have full access to ALL types of lenders across the board. Many lenders won’t lend directly to a corporate entity of any kind, including a title holding trust. So when you want to refinance or get an equity line of credit your choices are limited. Participating in a 1031 exchange won’t present any problems as far as the workings of the exchange are concerned, but it might slow things down a bit when you include the requirement of finding a lender who will lend directly to the trust (concerning the new property being exchanged in to). For some people the above limitations will be enough to sway them from using the trust format. Then there are others, myself included, who are willing to put up with the limitations because the privacy offered by the trust format is too important to give up. Follow Ups: Re: Title holding trusts ARE extra work sometimes... David 9:40 PM, 05/10/02 (3) Extra time needed for special funding routine.. Ward-CA- 9:47 AM, 05/11/02 (2) Re: Extra time needed for special funding routine.. David 10:07 AM, 05/11/02 (1) Don't want my name in the chain of title.. Ward-CA- 6:17 PM, 05/11/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Does having one's rental property in a title holding trust create any problems later when one wants to refinance; or get an equity line of credit; or do a 1031 exchange? Thanks. : ==================== : Alfred, : Yes, because you don’t have full access to ALL types of lenders across the board. Many lenders won’t lend directly to a corporate entity of any kind, including a title holding trust. : So when you want to refinance or get an equity line of credit your choices are limited. : Participating in a 1031 exchange won’t present any problems as far as the workings of the exchange are concerned, but it might slow things down a bit when you include the requirement of finding a lender who will lend directly to the trust (concerning the new property being exchanged in to). : For some people the above limitations will be enough to sway them from using the trust format. Then there are others, myself included, who are willing to put up with the limitations because the privacy offered by the trust format is too important to give up. 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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