Question About Land Trust
Hi all,
I am about to buy a property all cash and deed it directly into my land trust. My question is.... does the title company NEED a copy of the trust agreement to record the deed??? To my knowledge they shouldnt see this agreement but they are telling me they need a copy to record. Any help/suggestions would be appreciated
So should I find a new title company alltogether??? I still dont understand why they would need to see this agreement, especially if I am buying all cash.
Are you sure they want the entire Trust Agreement and not just a copy of the recorded Notice of Trust?
John (LV)
they want the trust agreement, between me and my trustee
Ask for clarification. When I went to record a deed in the name of my living trust, the Recorded said she need the entire agreement.
After a 2nd trip all they wanted to see is that the trust could own RE, and who the trustee was.
Only problem is I have already wired the money over to the title co for a closing tomm. Now I find out last minute that they want to see my trust agreement. What is the title company going to do with this. And if I were to get sued in the future, wouldnt it be easy to trace back to them to see who recorded,then the title co would give me up as the beneficiary
Check the laws for your state. In Florida it is best not to give them a copy of the trust document as that would get filed along with the deed and so become public record. It would also in essence make the trust basically the same as you putting your name directly on the deed.
Ask them to show you where in the statutes it says you have to give a copy of the trust documents. And since this is a cash deal it is definitely none of their business
They are saying, because I am getting title insurance, the underwriters need to have a copy of the trust. They also said all title companys require this if title insurance is required. I really would prefer they didnt have it because if the title company recieved a court order to reveal it, they would give me up in a second. How can I get around this???
Update: I spoke to the Countys Clerk and the Surveyor and they both directed me to the Plat Maps which show a different addres as well. However, the legal descriptions all match.
I also am thinking about marketing. I will most likely have to use to address in the post office records to market the property because that is what all these online map services and valuation tools appear to use.
Confusing, Huh?
JS.
As long as when you buy you can get title insurance you should be fine because if there ends up being a problem they have to sort it out or make you whole.