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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Get paid in the name of your bank account.... Posted by Ward-CA- on January 10, 2010 at 0:24 AM In Reply to: Payoff in the name of a trust posted by redave on January 09, 2010 at 8:22 PM Dave, Banks won't allow you to deposit a check into your bank account, that’s been made payable to someone else. So make sure that when you open escrow that escrow will make whatever arrangements necessary to issue you a check that you can deposit into your existing bank account. -----------Ward : Hi, : When a property sells, or a note pays off, escrow will issue a check to the trustee of the titled trust. : Can I deposit that escrow check made out to "john Doe, trustee" in my personal bank account or is the bank going to make me set up some kind of a trust account to cash/deposit the check? : Thanks, : Dave Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Dave, : Banks won't allow you to deposit a check into your bank account, that’s been made payable to someone else. : So make sure that when you open escrow that escrow will make whatever arrangements necessary to issue you a check that you can deposit into your existing bank account. : -----------Ward : : : Hi, : : When a property sells, or a note pays off, escrow will issue a check to the trustee of the titled trust. : : Can I deposit that escrow check made out to "john Doe, trustee" in my personal bank account or is the bank going to make me set up some kind of a trust account to cash/deposit the check? : : Thanks, : : Dave [ 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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