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Re: More about the title holding trust.

Posted by Ward-CA- on October 02, 2001 at 6:48 AM

In Reply to: Title Holding Trust & Liability posted by Eric - CA on October 01, 2001 at 11:03 PM

: Does the title holding trust insulate assets outside the trust from problems within the trust?

: I understand that if something in my life goes wrong, my creditors can go after all my assets including those in the trust.

: Does the reverse hold true? I thought that if it was in the trust, that if would insulate me from any "adverse" things that could happen in to the property in the trust including lawsuits, etc.

: Also, if I buy a piece of land at a property tax sale that has judgements against it, back mello roos fees, etc., do these things stay with the property or would I become personally liable? Also, I understand that the mello roos fees would remain after a property tax sale, do "non tax related" legal judgements stay against the title as well or do these get wiped. I have read the code and it appears that only tax/government related items remain on title. I also don't want these judgements etc. to affect me personally. suggestions, comments?

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Eric, the use of a separate trust for separate properties allows you to keep your properties from being aggregated to satisfy a judgment lodged against one of your properties.

When the inevitable happens, and something goes wrong a creditor can only go after those assets she can identify as belonging to you. If your name doesn’t appear in the public record as having anything to do with a particular property the creditor isn’t going to go after it.

Yes, separation of assets behind separate trusts works both ways—protecting a specific property’s problems from spreading to all and vice versa.

Buying property at a delinquent property tax sale would certainly wipe off any judgments that were in the name of the previous owner, but Mello Roos assessments are impersonal, like property taxes, and run with the land. Thus they’re exempt from extinguishment via a tax lien sale.



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