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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] subject to/title holding trust question Posted by will on September 23, 2003 at 5:47 PM For any who uses subject to and LandTrust method, I learned that when you do a Subject-To using a Land Trust, you should sign the Assignment of Beneficiary after the Grant Deed(into the Land Trust) is recorded. Last time I did a deal like this, I had the seller sign LandTrust Agreement, Grant Deed, and the Assignment all on a same date and notorized them on the same date. In your opinion, would it be necessary to make sure Grant Deed is recorded before the Assignment is signed? (so you can technically defend your position later if you had to when the bank tries to call the loan due since when the Grant Deed was recorded Assignment hasn't taken place thus no sales at the time or Grant Deed recording?)? I am having to meet with my seller twice(once to notorize Trust Agreement and the Grant Deed, and second time to notorize the Assignment of Beneficiary). Wondering if this is really necessary. Another Subject To question for my fella investors. When you take the property Subject-To using a Land Trust, can the seller take out a loan or declare bankrupcy, or place any other liens or judgments after the seller assigned the beneficiary interest of the Trust to you? I assume they can't because they are not the legal owner, but can a 3rd party mistakenly put a lien or judgment or anything else that can cloud the title by accident since the only thing that is recorded is Grant Deed into the Trust(for estate planning purpose)? Thanks. Follow Ups: Trust tuning.. Ward-CA- 8:21 PM, 09/23/03 (3) Re: Trust tuning.. will 8:31 PM, 09/23/03 (2) Re: Trust tuning.. will 8:35 PM, 09/23/03 (1) The "next question".. Ward-CA- 9:21 PM, 09/23/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : For any who uses subject to and LandTrust method, : I learned that when you do a Subject-To using a Land Trust, you should sign the Assignment of Beneficiary after the Grant Deed(into the Land Trust) is recorded. : Last time I did a deal like this, I had the seller sign LandTrust Agreement, Grant Deed, and the Assignment all on a same date and notorized them on the same date. : In your opinion, would it be necessary to make sure Grant Deed is recorded before the Assignment is signed? (so you can technically defend your position later if you had to when the bank tries to call the loan due since when the Grant Deed was recorded Assignment hasn't taken place thus no sales at the time or Grant Deed recording?)? : I am having to meet with my seller twice(once to notorize Trust Agreement and the Grant Deed, and second time to notorize the Assignment of Beneficiary). Wondering if this is really necessary. : Another Subject To question for my fella investors. : When you take the property Subject-To using a Land Trust, can the seller take out a loan or declare bankrupcy, or place any other liens or judgments after the seller assigned the beneficiary interest of the Trust to you? : I assume they can't because they are not the legal owner, but can a 3rd party mistakenly put a lien or judgment or anything else that can cloud the title by accident since the only thing that is recorded is Grant Deed into the Trust(for estate planning purpose)? : Thanks. 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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