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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Assignment problem Posted by frankCA on October 02, 2003 at 2:08 PM In Reply to: Re: Assignment problem posted by ellis on September 30, 2003 at 12:13 AM : Would this work? Put contract under another entity like an LLC, Title Holding Trust, or Corporation. Then simply sell that entity or (in the case of a THT the beneficial interest) to the assignee......Hi Ellis Thanks for the thoughts on my Assignment Problem and I like your idea of using a THT. This is how I see it happening and PLEASE correct me if it is otherwise. The original offer to purchase is made with the buyer as 1234 E. Popular St. Family Trust. I am the Trustee and Beneficiary in case the lender want to see something. I can conserve my cash & reduce closing costs if I assign my beneficiary position to the end buyer prior to close of escrow. My concerns are: Have I missed something that will cause the lender to discover the new buyer and cancel before close of escrow? How can I show my fee on the HUD-1 without attracting attention? : : : Hi Ward : : How do I avoid the problem of a lender canceling the agreement to short sell if, in escrow, I assigned my contract to purchase? When the lender sees the end buyer's name in escrow and my profit on the HUD-1 they CANCEL! Have you any suggestion other than double escrow? Follow Ups: Re: Assignment problem frankCA 2:13 PM, 10/02/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Would this work? Put contract under another entity like an LLC, Title Holding Trust, or Corporation. Then simply sell that entity or (in the case of a THT the beneficial interest) to the assignee......Hi Ellis : Thanks for the thoughts on my Assignment Problem and I like your idea of using a THT. : This is how I see it happening and PLEASE correct me if it is otherwise. : The original offer to purchase is made with the buyer as 1234 E. Popular St. Family Trust. : I am the Trustee and Beneficiary in case the lender want to see something. : I can conserve my cash & reduce closing costs if I assign my beneficiary position to the end buyer prior to close of escrow. : My concerns are: : Have I missed something that will cause the lender to discover the new buyer and cancel before close of escrow? : How can I show my fee on the HUD-1 without attracting attention? : : : : : : Hi Ward : : : How do I avoid the problem of a lender canceling the agreement to short sell if, in escrow, I assigned my contract to purchase? When the lender sees the end buyer's name in escrow and my profit on the HUD-1 they CANCEL! Have you any suggestion other than double escrow? 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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