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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Use of the Certification of Trust Posted by Mike on May 30, 2003 at 10:34 AM In Reply to: Use of the Certification of Trust posted by Ward-CA- on May 29, 2003 at 10:39 AM : 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? Hi Ward, I faxed you the Certification of Trust to your (619) 283-5455 fax number. If you can take a look and let me know if I should make any changes it would be much appreciated. Also, I have a couple more questions: 1) Isn't the actual note, which I am still personally signing with the lender, going to be a recorded document at the county recorders revealing me as the owner? 2) I have a builders contract I need to sign. Should I actually have the trustee sign this? Regarding the lender that I am using. He wanted me to send him a copy of the certification of trust and show his legal coucil. He hasn't confirmed if he will in fact do this yet. - Mike Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : 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? : Hi Ward, : I faxed you the Certification of Trust to your (619) 283-5455 fax number. If you can take a look and let me know if I should make any changes it would be much appreciated. : Also, I have a couple more questions: : 1) Isn't the actual note, which I am still personally signing with the lender, going to be a recorded document at the county recorders revealing me as the owner? : 2) I have a builders contract I need to sign. Should I actually have the trustee sign this? : Regarding the lender that I am using. He wanted me to send him a copy of the certification of trust and show his legal coucil. He hasn't confirmed if he will in fact do this yet. : - Mike 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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