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: Trusts - My Plan Make Sense? Posted by Jerry - Ca. on April 22, 2008 at 9:55 AM In Reply to: Re: Trusts - My Plan Make Sense? posted by hard money lender on April 21, 2008 at 5:18 PM HML: You said below: "this deed can have 3 separate trusts, as tenants in common, as its owner. : and the trustee can be any of the 3 beneficiaries. : you may have stated "doctrine of merger", but that is far different from showing proof." A (single)deed may transfer ownership to forms of ownership with multiple owners (tenants-in-common, joint tenants, partnerships, LLCs and Corporations) but in an Illinois model land trust ... legal and equitable title is held by a single Trustee! You said: "and the trustee can be any of the 3 beneficiaries. : you may have stated "doctrine of merger", but that is far different from showing proof." Yes the Trustee can be any of the 3 beneficiaries ... if you want an INVALID trust that's not worth the paper it's written, on except to avoid probate! I don't have to prove anything to YOU. Howver, just to give you a research starting point (if your interested) is Wikipedia's legal definition located at: http://en.wikipedia.org/wiki/Merger_doctine#Trust_law Jerry-Ca. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : hi jerry, : there is no difference. : a trust is simply an entity that can own property. : whether it is revocable or irrevocable makes a difference. : but the phrase "title holding trust" and the phrase "living trust" are not legal entities, and they are not different. : people use the phrase "tht" to typically demonstrate that it owns a singular piece of property. : people use the phrase "lt" to typically demonstrate a trust that carries lingo in it on how to manage the estate. : i am certainly aware that a deed is recorded. this is the only thing that creates legal ownership. : this deed can have 3 separate trusts, as tenants in common, as its owner. : and the trustee can be any of the 3 beneficiaries. : you may have stated "doctrine of merger", but that is far different from showing proof. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : HML: : You said below: : "this deed can have 3 separate trusts, as tenants in common, as its owner. : : and the trustee can be any of the 3 beneficiaries. : : you may have stated "doctrine of merger", but that is far different from showing proof." : : A (single)deed may transfer ownership to forms of ownership with multiple owners (tenants-in-common, joint tenants, partnerships, LLCs and Corporations) but in an Illinois model land trust ... legal and equitable title is held by a single Trustee! : You said: : "and the trustee can be any of the 3 beneficiaries. : : you may have stated "doctrine of merger", but that is far different from showing proof." : Yes the Trustee can be any of the 3 beneficiaries ... if you want an INVALID trust that's not worth the paper it's written, on except to avoid probate! : I don't have to prove anything to YOU. Howver, just to give you a research starting point (if your interested) is Wikipedia's legal definition located at: : http://en.wikipedia.org/wiki/Merger_doctine#Trust_law : Jerry-Ca. : : XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX : : hi jerry, : : there is no difference. : : a trust is simply an entity that can own property. : : whether it is revocable or irrevocable makes a difference. : : but the phrase "title holding trust" and the phrase "living trust" are not legal entities, and they are not different. : : people use the phrase "tht" to typically demonstrate that it owns a singular piece of property. : : people use the phrase "lt" to typically demonstrate a trust that carries lingo in it on how to manage the estate. : : i am certainly aware that a deed is recorded. this is the only thing that creates legal ownership. : : this deed can have 3 separate trusts, as tenants in common, as its owner. : : and the trustee can be any of the 3 beneficiaries. : : you may have stated "doctrine of merger", but that is far different from showing proof. [ 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