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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Don't want my name in the chain of title.. Posted by Ward-CA- on May 11, 2002 at 6:17 PM In Reply to: Re: Extra time needed for special funding routine.. posted by David on May 11, 2002 at 10:07 AM : Hate to beat this to death, but... : If the IRC 1031 rules allow the new property to be in your personal name when the old was in a trust, why not do that, get your new loan to complete the exchange, then deed out of your personal name into a trust. Isn’t this what people do all the time to get loans, called “stepping out of the trust”? There’s no time delay and you end up with the property in a trust. Or do you simply prefer not to have your personal name in the chain of title? : Thanks in advance, : David ================= You've got it David. I simply prefer not to have my personal name in the chain of title, ever! Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hate to beat this to death, but... : : If the IRC 1031 rules allow the new property to be in your personal name when the old was in a trust, why not do that, get your new loan to complete the exchange, then deed out of your personal name into a trust. Isn’t this what people do all the time to get loans, called “stepping out of the trust”? There’s no time delay and you end up with the property in a trust. Or do you simply prefer not to have your personal name in the chain of title? : : Thanks in advance, : : David : ================= : You've got it David. I simply prefer not to have my personal name in the chain of title, ever! 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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