Do you have the seller put their property in a trust then do the closing when I have a buyer or is it all done at the same time at the closing?
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* Money Making Secret #4: Trusts Simplified! A little confused on this entire Trust thing? Why to do it? How to do “Subject-To” safely? I’m going to show you my new fundamentals of Trusts training that will simplify the concept of Trusts, so a 9-year-old child can understand it.
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Money-Making Management Secrets from a 40 year veteran who manages over 150 now
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Having Tenants Leave Your Property in Better Condition than When You Gave It to Them
Why Land and Personal Property Trusts are the Best Privacy and Asset Protection
Benefits of Trusts You Cannot Get With ANY Other Entity
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Scott Paton:
Do you have the seller put their property in a trust, then do the closing when I have a buyer or is it all done at the same time at closing?
Lou Brown:
If you are purchasing from a seller, well, I’m saying you’re not purchasing. What the seller does is the seller does place their property into their trust. What you purchased is the beneficial interest of the trust, or perhaps your trust. Another trust like a personal property trust, for example, could purchase the beneficial interest of that land trust. Well, in Land Trust, that differential that occurs in a land trust is that the beneficial interest is personal property. It’s not real estate. So, that’s what you’re really purchasing when you’re doing a property subject to the existing loan.
