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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] You can't count.. Posted by Ward-CA- on September 10, 2003 at 6:13 PM In Reply to: 3 trust questions.....help!! posted by zachary on September 10, 2003 at 3:54 PM : Ward, : here it goes: : 1. what do I use for the "tax id#" of the trust? should I use the ssn# of the trustee? My cert. of trust form has a spot for it. : 2. Does the "tax id#" have to be stated in the trust agreement also : 3. is there a problem with calling the trust "seller" family trust, instead of just "seller" trust?? : 4. ok I just thought of one more: When selling out of the trust do you tell the title company that you are the trustee of a living trust? I just talked to a title company who said that they don't deal with land trusts and may not insure title for the new buyer if its sold out of a land trust....should I have used living trust instead? something they are more familiar with? : : thanks a ton!! : : Zachary =•=•=•=•=•=•=•=•=•=•= Zachary, #1. If you got an EIN for your trust then that's the number you'd use. If you and your wife are the only beneficiaries then you'd use your own SSN. If a third party is your trustee, you wouldn't use their SSN since they don't have any beneficial interest in the Trust. You'd still use your own SSN. #2. No, I've never seen the trust's EIN mentioned in the trust agreement itself. #3. Using the moniker "family" in the trust's vesting indicates that it's a living trust. Since the Title Holding Trust (THT) is not a living trust you'd be lying, and unnecessarily so. #4. You don't need to ever identify what type of trust you're using since the title company never sees the Trust Declaration. So in the absence of an explanation from you they will just assume it's a living trust When selling out of the trust, your trustee is going to sign a deed wherein she's the grantor deeding the property into the individual name of the grantee. Follow Ups: Re: You can't count....thanks!! and 1 more..... zachary 6:21 AM, 09/11/03 (4) Baker's dozen I think... Ward-CA- 8:26 PM, 09/11/03 (3) Let me get this straight.... Gary 9:33 AM, 09/12/03 (2) Getting straight... Ward-CA- 4:53 PM, 09/12/03 (1) Re: Getting straight... Lughead 8:36 PM, 09/12/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : here it goes: : : 1. what do I use for the "tax id#" of the trust? should I use the ssn# of the trustee? My cert. of trust form has a spot for it. : : 2. Does the "tax id#" have to be stated in the trust agreement also : : 3. is there a problem with calling the trust "seller" family trust, instead of just "seller" trust?? : : 4. ok I just thought of one more: When selling out of the trust do you tell the title company that you are the trustee of a living trust? I just talked to a title company who said that they don't deal with land trusts and may not insure title for the new buyer if its sold out of a land trust....should I have used living trust instead? something they are more familiar with? : : : : thanks a ton!! : : : : Zachary : =•=•=•=•=•=•=•=•=•=•= : Zachary, : #1. If you got an EIN for your trust then that's the number you'd use. If you and your wife are the only beneficiaries then you'd use your own SSN. If a third party is your trustee, you wouldn't use their SSN since they don't have any beneficial interest in the Trust. You'd still use your own SSN. : #2. No, I've never seen the trust's EIN mentioned in the trust agreement itself. : #3. Using the moniker "family" in the trust's vesting indicates that it's a living trust. Since the Title Holding Trust (THT) is not a living trust you'd be lying, and unnecessarily so. : #4. You don't need to ever identify what type of trust you're using since the title company never sees the Trust Declaration. So in the absence of an explanation from you they will just assume it's a living trust : When selling out of the trust, your trustee is going to sign a deed wherein she's the grantor deeding the property into the individual name of the grantee. 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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