How to include the Land Trust clause in a equity purchase agreement (CA)?
Hi,
I am in CA. I would like to know the exact phrasing in order to include a land trust clause (to avoid trigering the due-on-sale clause) in an equity purchase agreement? Who can help me to modify my equity purchase agreement? I do not want the seller to transfer his deed directly to me. My agreement is viewable at: http://w93l.members.easyspace.com/foreclosure/pur.pdf (this is a PDF file)
Thank you
Luc
Quote:
On 2002-10-02 17:45, lweinlan wrote:
Hi,
I am in CA. I would like to know the exact phrasing in order to include a land trust clause (to avoid trigering the due-on-sale clause) in an equity purchase agreement? Who can help me to modify my equity purchase agreement? I do not want the seller to transfer his deed directly to me. My agreement is viewable at: http://w93l.members.easyspace.com/foreclosure/pur.pdf (this is a PDF file)
Thank you
Luc
Luc,
I am not sure on what your saying about having a clause for a Land trust inside your purchase agreement.
Really, if you don't want to convey title in your name, you just place your Land Trust name, whatever that may be, into the area of "buyer".
good luck,
[addsig]
It goes where you have Luc Weinland, but you probably don't want to put your name.
I would put the street address as the trust name so you dont get confused if you do another one. Like this:
Buyer: 2312 Elm Avenue Trust
However, you should have the EPA signed by seller and then take it to an escrow/title company, and then you have a 3rd party officially count the 5 day waiting period. then you have the seller RESIGN all the proper docs to transfer into a land trust. Just tell the escrow/title company what you're doing and that it....oh you'll prob have to sign the paper work as well, but you don't have to meet the seller at the signing.....
Andy