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Land Trust

Wednesday, November 20, 2002 @ 12:49 PM EST

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Contributed by: Michelle

Michelle Properties

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Can someone explain to me exactly how the Land Trust works. I am thinking of putting my own home along with a rental property I just purchased into a land trust (seperate of course). I spoke with an attorney who is also a Real Estate Broker and he informed me that the Land Trust was a bunch of BS. That I must be listening to those get rich books and tapes. Wanted to get some insight and positive feedback if there is any from savvy REI's. Any comments or suggetions would be very helpful.


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Re: LandTrust (Score: 1)
by jerr on Friday, November 22, 2002 @ 09:20 PM EST

hello id love to review the contracts you have that are good in all 50 states where do you get those ...thanx jer[ No Comments Allowed for Anonymous, please register | Go to Parent Article ]

Re: LandTrust (Score: 1)
by langerjp on Wednesday, November 27, 2002 @ 08:47 AM EST

I can't directly answer your question. However, if you are in California, check out Entrust Administration. They will be the trustee for a Real Estate Roth IRA. As part of that program they will help you set up a trust. The books they have are clear, thorough and answer most of the questions about the IRA. But they also mention the land trust. I find them to be very informative on a phone call and very willing to talk. They are in Oakland. Perhaps they can help you.

http://www.entrustadmin.com/investment_options/IRA_investing_in_Real_Estate.html[ No Comments Allowed for Anonymous, please register | Go to Parent Article ]

Re: LandTrust by johnlw on Wednesday, November 27, 2002 @ 06:49 PM EST

Re: LandTrust (Score: 1)
by Lufos on Thursday, June 12, 2003 @ 01:22 AM EDT

The Land Trust is used throughout the Great State of California. Perhaps you have heard of the Deed of Trust and the three parties therein. Trustee, he who holds title to the land during the period of the incumbrance, he/she or it issued a Full Reconvayance upon payoff of the obligation. Instructed by the Beneficiary who issues an instruction called, Request for Full Reconvayance. Oh yes, do not forget the Trustor, thats the person who borrowed the money and surrendered title to the Power of the Deed of Trust. This wonderful??? system came to us by way of Australia who it seems was also influenced by British Common Law. But of course if you do not like this Land Trust you can always go back to regular mortgages and enforce a performance through the courts.
Now I know I slept through most of law school but way back in the 50's this was on the Bar Examination. Oh yes the instrument that assigns the Deed of Trust if you wish to sell it is called an Assignment of a Deed of Trust. You also endorse the note. All of this is of course tied to the Grant Deed which is what we use in this state to p***** title, subject of course to any recorded Deeds of Trust. You may record all of these documents, I suggest you do, or you may not. Probably have a m***** of future problems if you do not. Be happy to send you all copies of these instruments as an attachment. Suggest you do your closing with a good? attorney, or get smart, include them out and utilize the Escrow System such as we do here in California. If you are curious as to how all this came about? Very simple. Do you know how Deeds and Mortgages were entered way back in time? One of my first summer jobs was in the Hall of Records, I sat on a tall stool, had a green visor on my head and my arms were encased in black sleeves which covered the arms of my shirt. I entered in a book of deeds each transfer and encumbrance. How much easier it became when the Deed of Trust came into common ussage. Yip the End, yes it is true I am now 81, from InkPot to Computer, it seems like yesterday, sure. Dah Lucius[ No Comments Allowed for Anonymous, please register | Go to Parent Article ]

Re: LandTrust by TBCUnlimited on Sunday, September 21, 2003 @ 02:55 PM EDT

Re: LandTrust by RVATX on Thursday, March 11, 2004 @ 02:23 PM EST

Re: LandTrust (Score: 1)
by millions on Wednesday, July 30, 2003 @ 11:25 PM EDT

R/E Land trust

Louisbrown.com ( he is the advisor to the big REI ) and his other site is streetsmart.com,
both sites have a lot of information on *****et protection.

Good luck
Bongo[ No Comments Allowed for Anonymous, please register | Go to Parent Article ]

Re: LandTrust (Score: 1)
by jill on Saturday, August 23, 2003 @ 07:46 PM EDT

Michelle,

I have been wondering if a Land Trust is used in California. I am going to spend $30.00 for thirty minutes to speak with a seasoned Real Estate Attorney.

Look up an attorney referral service in your city, place a call and ask to speak to a Real Estate who is educated in Land Trusts for the state of California.

You pay $30.00 using your debit card, and the attorney referral service lines up an attorney who will speak to you over the telephone, it is a convenient way to get inexpensive advise.

I am also very new and would like to locate an attorney to use for a few of my contracts for a fee of not more than $200.00.

I hope this comment helps you.

Sincerely,

JIll
[ No Comments Allowed for Anonymous, please register | Go to Parent Article ]

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