![]() |
Foreclosure Forum |
|
Juggling privacy at the point of recording a deed...In Reply to: preliminary change of ownership report, advanced question posted by gcastro on January 17, 2004 at 10:08 PM : Ward, lets say that I want to put my property into a THT, but I am not sure at this moment whether the best for me would be a revocable, or an irrevocable one. So what I do is to deed the property to a trust, but do not show the declaration of trust to anybody. I do that so that if I encounter a situation where I need an irrevocable trust, then I create a declaration of trust at that time, but dated back before the deed was signed. That way everyone has to believe that that was the trust I always had. Anyways, here comes the question: Assuming that that is my plan, then, how would I fill out the Preliminary change of ownership report when I record the deed, specially on part 1, where they ask you all those questions like: ?Is this tranfer of property to a revocable by the tranferor...?? =?=?=?=?=?=?=?=?=?=?= Gonzalo, The Preliminary Change of Ownership Report (PCOR) that has to accompany most deeds at the time of their recording is not made part of any public record. Therefore the information on the PCOR is not available to any party other than the County Assessor. So you're at liberty to indicate to the assessor whatever you want. And as you know, you can record a deed and not have to indicate on the face of it what transfer tax, if any, you are liable for. Your declaration should be put on a separate sheet of paper that's not filmed by the recorder's office. Hope this helps. Follow Ups:
Post a Followup:
|
Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.
Copyright © 1997-2004, InnoVest Resource Management
http://www.foreclosureforum.com
InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455