InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Question for the THT experts here...Ward Posted by BigMike on March 24, 2008 at 11:11 PM In Reply to: Re: Question for the THT experts here...Ward posted by dave on March 23, 2008 at 2:03 PM maybe I'm missing something, but you are making this way too complex. Use the cert of trust and get the dela done. I use my Ca based LLC as trustee on deals in VA to purchase HUD properties with multiple investors/beneies. : : Property purchased at trustee sale held in a THT with my Texas L.P. as trustee of xxx street trust. The benes of the trust are my investors. Escrow opens tomorrow and I am trying to figure out how to proceed. this is what I think, but please correct me if I am wrong: Deed the property from the xxx trust to the 123 partnership. Question: can the partnership be made of the xxx trust and my texas L.P., or do i need to have a person as the trustee. If it needs to be a person, should I just make myself the trustee? I then record this deed and get it to escrow. Can this happen anytime during the 30 day escrow or will they need it asap? will I need to do a PCOR as well? I am guessing Escrow will need a cert of trust form as well. will i run into any issues regarding my texas LP being the trustee of the trust? Thanks in advance.. : above referenced property was purchased at a california trustee sale. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : maybe I'm missing something, but you are making this way too complex. Use the cert of trust and get the dela done. I use my Ca based LLC as trustee on deals in VA to purchase HUD properties with multiple investors/beneies. : : : : Property purchased at trustee sale held in a THT with my Texas L.P. as trustee of xxx street trust. The benes of the trust are my investors. Escrow opens tomorrow and I am trying to figure out how to proceed. this is what I think, but please correct me if I am wrong: Deed the property from the xxx trust to the 123 partnership. Question: can the partnership be made of the xxx trust and my texas L.P., or do i need to have a person as the trustee. If it needs to be a person, should I just make myself the trustee? I then record this deed and get it to escrow. Can this happen anytime during the 30 day escrow or will they need it asap? will I need to do a PCOR as well? I am guessing Escrow will need a cert of trust form as well. will i run into any issues regarding my texas LP being the trustee of the trust? Thanks in advance.. : : above referenced property was purchased at a california trustee sale. [ 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. Read our privacy policy.

Copyright © 1997-2008, InnoVest Resource Management
http://www.foreclosureforum.com

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