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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Brain ache.... Posted by Ward-CA- on September 11, 2003 at 5:11 PM In Reply to: Tax ID clarification.....thanks!! posted by zachary on September 11, 2003 at 8:16 AM : Ward, : thanks for the answers to my previous questions regarding trusts. : heres questions that are making my brain ache :-0 : : - If the original sellers create the trust, and if we want the lender to assume that they are staying the Beni.s wouldn't we use the sellers ssn# as the tax id# for the trust?? : If I use my own then won't that tip the lender off that there is something going on? : I guess my basic question here is what do I use as the tax id# if: : seller creates trust, with me as trustee : seller grants prop to trust : seller assigns beni. intrest to me and my money partner (50% each) : should I use the original sellers ssn#?? : thanks : Zachary -=-=-=-=-=-=-=-=-=-=-=-=-=- Zachary, Yes the tax ID should be the Seller's and it should appear as the tax identification # on the Certification of Trust form. Don't use your own SSN. Have seller create the trust with himself as the trustee and use his SSN. Later have him deed the trusteeship to you as the successor trustee and sell you 100% of the beneficial intererst in the trust via an Assignment of Interest in Trust. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : thanks for the answers to my previous questions regarding trusts. : : heres questions that are making my brain ache :-0 : : : : - If the original sellers create the trust, and if we want the lender to assume that they are staying the Beni.s wouldn't we use the sellers ssn# as the tax id# for the trust?? : : If I use my own then won't that tip the lender off that there is something going on? : : I guess my basic question here is what do I use as the tax id# if: : : seller creates trust, with me as trustee : : seller grants prop to trust : : seller assigns beni. intrest to me and my money partner (50% each) : : should I use the original sellers ssn#?? : : thanks : : Zachary : -=-=-=-=-=-=-=-=-=-=-=-=-=- : Zachary, : Yes the tax ID should be the Seller's and it should appear as the tax identification # on the Certification of Trust form. : Don't use your own SSN. : Have seller create the trust with himself as the trustee and use his SSN. Later have him deed the trusteeship to you as the successor trustee and sell you 100% of the beneficial intererst in the trust via an Assignment of Interest in Trust. 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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