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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] State specific forms Posted by Ward-CA- on August 11, 2003 at 10:03 AM In Reply to: CA Land Trust - State Specific Language posted by Ernie on August 11, 2003 at 8:11 AM : Hi Ward. While this isn't directly related to Foreclosures, I figured I would come to you since you have a thorough knowledge of land trusts. My question is, since I live in CA, do I need a state specific land trust, warranty deed to trustee, and assignment of beneficial interest? Does a warranty deed guarantee clear title?(yes I'm new). I have a possible deal to purchase subject to and am in the process of doing some leg work. : Bonus question - Do you need a minimum number of people signed up for your title holding trust course in order for me to sign up quickly or do I need to wait? Any help is (once again) greatly appreciated. : Best, : E =•=•=•=•=•=•=•=•=•=•= Ernie, We use the THT (title holding trust) form that was devised by Chicago Title & Trust that passes muster here in CA. You will probably want to use CA’s traditional Grant Deed form, a copy of which you can get free from most Customer Service Departments of your local title companies. The assignment form of a trust’s beneficial interest is I provide you with in the Trust Manual. Yes, a warranty deed or grant deed warrants that the condition of title is what the Seller has expressly disclosed to you. But you wouldn’t want to depend solely on that disclosure. Best to have title insurance so you’re guaranteed by a title insurance policy in your favor of what’s against the title to the property you’re buying. In Southern CA (Santa Barbara to San Diego) the custom is that the Seller pays for the title insurance while in Northern CA the buyer pays for it. The trust class is conducted for five hours in the morning (7:00 AM to 12:00 Noon) or for five hours in the afternoon (1:00 PM to 6:00 PM). If you take it by yourself it’s $750 whereas if you take it with another person it drops to $625.00 dollars. Since our schedule is fluid and adjusted daily you need to call us as soon as you want to lock in the time best suited for you. We don’t charge any registration fee for the five hour classes. Hope this helps. Follow Ups: Re: State specific forms Ernie 12:17 AM, 08/11/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Ward. While this isn't directly related to Foreclosures, I figured I would come to you since you have a thorough knowledge of land trusts. My question is, since I live in CA, do I need a state specific land trust, warranty deed to trustee, and assignment of beneficial interest? Does a warranty deed guarantee clear title?(yes I'm new). I have a possible deal to purchase subject to and am in the process of doing some leg work. : : Bonus question - Do you need a minimum number of people signed up for your title holding trust course in order for me to sign up quickly or do I need to wait? Any help is (once again) greatly appreciated. : : Best, : : E : =•=•=•=•=•=•=•=•=•=•= : Ernie, : We use the THT (title holding trust) form that was devised by Chicago Title & Trust that passes muster here in CA. : You will probably want to use CA’s traditional Grant Deed form, a copy of which you can get free from most Customer Service Departments of your local title companies. : The assignment form of a trust’s beneficial interest is I provide you with in the Trust Manual. : Yes, a warranty deed or grant deed warrants that the condition of title is what the Seller has expressly disclosed to you. But you wouldn’t want to depend solely on that disclosure. Best to have title insurance so you’re guaranteed by a title insurance policy in your favor of what’s against the title to the property you’re buying. : In Southern CA (Santa Barbara to San Diego) the custom is that the Seller pays for the title insurance while in Northern CA the buyer pays for it. : The trust class is conducted for five hours in the morning (7:00 AM to 12:00 Noon) or for five hours in the afternoon (1:00 PM to 6:00 PM). If you take it by yourself it’s $750 whereas if you take it with another person it drops to $625.00 dollars. : Since our schedule is fluid and adjusted daily you need to call us as soon as you want to lock in the time best suited for you. We don’t charge any registration fee for the five hour classes. : Hope this helps. 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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