Setting Up The Trust In A Shortsale Deal
Here is what I know and if I am wrong please correct me. I know I need to create a trust for example "1234 Anyway St Trust" have the owners own 100% beneficial interest in the trust and then sign a private document whereby the assign 100% of their interest to me.
I need to transfer and record the deed to the trust.
My question now is do I record the trust?
I guess I really need someone to explain the trust part for me when it comes to shortsales?
I need to transfer and record the deed to the trust.
My question now is do I record the trust?
I guess I really need someone to explain the trust part for me when it comes to shortsales?
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As discussed in recent posts you never want to record the Trust just the deed to trustee.