Buying Property And Putting Title In Name Of A Trust
i'm planning on buying a property. 10% down. 80-10 loan.
is it possible to directly put the property into a trust?
if i have a trust agreement all set up and give that to the escrow company and tell them to record the property in the trusts name, will
that work?
do i have to put it into my name and then transfer it into the name of
the trust?
Chances are the lender is going to dictate how the property is titled and whose name it's in, so you'd better ask them what they'll allow you to do.
If it's your residence, then Fed law (Garn St. Germaine) clearly gives you the right to transfer it into a trust, following the conditions of that law and the lender cannot stop your doing that.
Of course, for anonymity's sake, it would be better if it were NEVER in your name, but that may not be possible with your loan.