Whenever you are deeded a property you are the owner and if you sell it the owner gets the money that is left over after all mortgages/leins are payed off. If you are using a trust the trustee will be the owner and will get the proceeds form the sale. I donot use trusts when I buy houses subto.
[ Edited by krybrahaha on Date 01/22/2006 ]
[ Edited by krybrahaha on Date 01/22/2006 ]
Whenever you are deeded a property you are the owner and if you sell it the owner gets the money that is left over after all mortgages/leins are payed off. If you are using a trust the trustee will be the owner and will get the proceeds form the sale. I donot use trusts when I buy houses subto.
Thank you for your input. Great help!!!