Hello to all that read this post, I have an inquiry in regards to utlitizing a trust in the seller-financing carry back scenario?
I have read literature suggesting that you should never give a personal guarantee when you create a note with a seller. You should make a land trust assume the note.
My questions are:
- How does a land trust assume notes?
- Do you allow your corporate entity assume the note, then transfer it to a land trust?
- Who would be the beneficiary of the land trust in this scenario?
The homeowner or your corporate entity
Any feedback would be gladly appreciated