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title holding trust

Posted by Camille Calenda on June 02, 2003 at 3:52 PM

Hi Ward--

We sold a property that was in a title holding trust (trust name PS, LLC as trustee of the West Trust dated Jan. 15, 2003) but we are carrying a 20K note & deed of trust on the property...would the lender be the same as the trust name above? My concern is that the title holding trust will remain open and we are not holding title anymore. Do we close the trust and open a different type of trust to receive payments on the note or is it okay the way it is?

Thank you!
Camille


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