If I take a property subject to and put it in a land trust, what's keeping the former owner from taking out a loan on it in the future? Thanks!
An owner cannot take out a mortgage on a property that he/she does not own. It is rare that a mortgage will be made directly to a trust and even if it is the bank will require proof that the trust belongs to the seller.
An owner cannot take out a mortgage on a property that he/she does not own.
It is rare that a mortgage will be made directly to a trust and even if it is the bank will require proof that the trust belongs to the seller.