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I'm a little confused. Couple of questions

Posted by James-CA on September 10, 2003 at 11:15 AM

Hi Ward,

I am a little confused. Here are some questions which should help me understand Equity Buyouts using THTs and the preliminary change of ownership form:

1. When taking title subject to and with a THT, you fill out the preliminary change of ownership report (only section 1) and file it along with the Grant Deed, correct? Who signs that?

2. When using a THT, do you ever file a preliminary change of ownership report using sections 2-4 BEFORE the resale or refi? If so, when?

3. What transfering from homeowner to THT, what box(es), if any, are checked on the Grant Deed when it is recorded? (Full value, less than?)

4. When time comes to record the Trust Deed and Straight Note, do you need to file a preliminary change of ownership report?

Thanks for your help.


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