Ward and his office helpers

InnoVest Resource Management's

Foreclosure Forum

Home

Discussion Board

"Hands-On" Training

Title Holding Trust

Speaking Schedule

Store

Foreclosure Codes

50 State Resource Data

Foreclosure Glossary

Foreclosure Statistics

60+ Yrs Interest Rates

Fillable Forms

Archived Articles

Dingbat Retirement Plan

Links

Contact / Map

Home

 

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ]

Certification of Trust to Lender

Posted by Mike on May 29, 2003 at 7:53 AM

It's Mike Rivera. Hope you are doing well. Joanne and I took your Title Holding Trust course back on May 25, 2001. Almost exactly two years ago!

We have put our properties in trusts. It is not until now that I am attempting to purchase a new property from the start into a trust without using our names first on title. I found a lender that is open to doing this.

I emailed you a rough draft of the Certification of Trust that I plan to give to my lender with a copy of California Codes Probate Code Section 18100-18100.5. Can you please review it and let me know if there is anything I am missing?

Also, I do have a few questions that I need confirmation of. I'm sure we went over some of these in your course but I don't recall the details.

1) The property is located in Florida. Will this certification work in Florida?

2) We are purchasing the property from a developer. Do I have it correct to have them as the settlor of the trust?

3) Is it correct to list the beneficiaries (us) on this certification of trust?

4) Should I include text in this Certification of Trust that states that this certification should not be recorded in public record?

5) I am putting my own social security number in for the Trust's tax ID number since I don't plan to obtain a separate tax ID for the trust. Is this OK?

6) Do I need to have the Certification of Trust notarized?

Your assistance with this will be much appreciated.

- Mike


Follow Ups:


Post a Followup:

Name    : 
E-Mail  : 
Subject : 
Comments: 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

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.

Copyright © 1997-2003, 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

[an error occurred while processing this directive]