Getting The Property Into Land Trust
I need help in figuring out how to write up the initial documents in a sub2 or L/O to get the property into a land trust.
Do I initially get the property in my name and then transfer?
Your help is greatly appreciated! Thanks in advance for your help!
When doing a sub-2 deal I always go straight to a land trust. I do not want a title transfer to my name at any stage as that is confirmation that the DOS should apply. The land trust moves the property from the seller's name to the seller's LT and then on to me. DOS does not apply when the seller transfers the property from their name to their LT.
Granted I provide the LT for the seller to move the property into so that I know it is handled correctly. Actually my lawyer knows that and I depend on the quality of his process.
John
[addsig]
John,
So I hear you say that you actually do the deal in the LT. Have you had any objections to that?
I have read where I don't really need the LT until after you have actually completed the deal. I have read that you can create the LT after and usually name it the current owner (i.e. if you purchased from John Smith, you might call it the John Smith Land Trust)
Your thoughts?
Thanks in advance for everyone's help.
GA_John