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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Title Holding Trust Question/Protection Posted by Walter on June 25, 2003 at 8:50 PM Ward, Am I understanding this correctly? I am in Arizona. I have the homeowner in distress ( John Doe ) Quit Claim Deed his property located at 1212 E. Jones St. into a Title Holding Trust we call the 'Doe 1212 Jones Street Trust'. The verbage on the Quit Claim Deed would be under the Grantee 'XYZ LLC as trustee of the Doe 1212 Jones Street Trust, UDT dated 6-25-03'. John Doe would assign bennificial interest of the trust to me personally with my corporation XYZ LLC still as trustee. When I sell the property ( or more accurately the beneficial interest in the trust ) to the end consumer, the new end consumer can at their option continue to use my LLC as trustee if it is agreeable to me, or complete a substitution of trustee form and record it. Is that right? The second part of my question is ... What is to stop some savvy/slimy individual from finding just such a Quit Claim Deed recorded and simply create his own title holding trust under the same name with XYZ LLC as the trustee and himself as the original beneficiary ( therefore eliminating the need for an assignment of beneficial interest from John Doe )which would pose a conflict to my legitimate trust? I am sure I am missing something simple. Thankyou, Walter Follow Ups: All the usual protections are present.. Ward-CA- 11:16 PM, 06/25/03 (4) Re: All the usual protections are present.. Walter 7:38 AM, 06/26/03 (3) AZ is a bummer where trusts are concerned... Ward-CA- 8:11 AM, 06/26/03 (2) Re: AZ is a bummer where trusts are concerned... jenv 1:23 PM, 06/26/03 (0) Re: AZ is a bummer where trusts are concerned... Walter 1:14 PM, 06/26/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : Am I understanding this correctly? I am in Arizona. I have the homeowner in distress ( John Doe ) Quit Claim Deed his property located at 1212 E. Jones St. into a Title Holding Trust we call the 'Doe 1212 Jones Street Trust'. The verbage on the Quit Claim Deed would be under the Grantee 'XYZ LLC as trustee of the Doe 1212 Jones Street Trust, UDT dated 6-25-03'. John Doe would assign bennificial interest of the trust to me personally with my corporation XYZ LLC still as trustee. When I sell the property ( or more accurately the beneficial interest in the trust ) to the end consumer, the new end consumer can at their option continue to use my LLC as trustee if it is agreeable to me, or complete a substitution of trustee form and record it. Is that right? : The second part of my question is ... What is to stop some savvy/slimy individual from finding just such a Quit Claim Deed recorded and simply create his own title holding trust under the same name with XYZ LLC as the trustee and himself as the original beneficiary ( therefore eliminating the need for an assignment of beneficial interest from John Doe )which would pose a conflict to my legitimate trust? : I am sure I am missing something simple. : Thankyou, : Walter 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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