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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Use of the Certification of Trust Posted by Ward-CA- on May 29, 2003 at 10:39 AM In Reply to: 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 =•=•=•=•=•=•=•=•=•=•= Mike, We haven’t received your Certification of Trust in our email. 1. Of course you’re aware that the Certification is used here in CA, but not necessarily in other states. I happen to have two books on the Florida land trust, and the Certification of Trust is not mentioned in any of them. 2. The Settlor of a trust is the one who creates the trust and then funds it with property and cash. The developer is just the seller you’re buying the property from. You are buying property from him and putting it directly into the trust. So you are the Settlor of the trust. 3. Usually you wouldn’t list the beneficiaries of a trust on a certification of trust. 4. Normally you’d keep the original Certification of Trust and just give out copies to escrow or a title company. That’s a safeguard to prevent others from recording your Certification (which is never recorded). 5. Yes, most people use their SS# for use with their trust. 6. Yes, the trustee’s signature on the Certification of Trust has to be notarized. P.S. By the way, who’s your accommodating lender? Follow Ups: Re: Use of the Certification of Trust Mike 10:34 AM, 05/30/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : 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 : =•=•=•=•=•=•=•=•=•=•= : Mike, : We haven’t received your Certification of Trust in our email. : 1. Of course you’re aware that the Certification is used here in CA, but not necessarily in other states. I happen to have two books on the Florida land trust, and the Certification of Trust is not mentioned in any of them. : 2. The Settlor of a trust is the one who creates the trust and then funds it with property and cash. The developer is just the seller you’re buying the property from. You are buying property from him and putting it directly into the trust. So you are the Settlor of the trust. : 3. Usually you wouldn’t list the beneficiaries of a trust on a certification of trust. : 4. Normally you’d keep the original Certification of Trust and just give out copies to escrow or a title company. That’s a safeguard to prevent others from recording your Certification (which is never recorded). : 5. Yes, most people use their SS# for use with their trust. : 6. Yes, the trustee’s signature on the Certification of Trust has to be notarized. : P.S. By the way, who’s your accommodating lender? 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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