Ron legrand was speaking about taking title to the property( grant deed to trustee) and putting it under a land trust. is there such a form? The seller granting to their own trust and having you(buyer) as the trustee, this shows that the sellers may still be the beneficiary to whoever is concerned. if the buyer was the trustee does that make them in absolute control of this trust? isnt the person who created the trust( seller) still have the right to take possession, or is there another person who is appointed to a position in the trust that i do not understand…
i have also heard that
in order to put the deed in a land trust you would 1st need to take title to property in your name( or entity). then you could transfer the beneficial interest to a trustee. what does this mean/??? im in CA and is there any websites,programs that explain how this really works. PLEASE HELP!! thanks
What is it exactly that you are attempting to accomplish?
i want to purchase a property that is in distress, however, i want to take title but i want to protect myself if it goes to foreclosure being that its a short sale, i believe any purchase done through a distress sale should be done through a land trust? ron legrands program said to put the property in a land trust and not to (buyer/me) personally. keep your name out of ownership position on public records, i dont understand how the trust works i guess, any suggestions? thanks!
I replied to your post regarding this topic.
j
The biggest argument I’ve heard for taking the deed is to keep someone else from stealing the deal from you. But if there’s not a lot of competition, there’s not much to worry about.