Private Trust – Protecting Your Real Estate from Lawsuits

Protect Your Ownership

A Private Trust offers numerous advantages:

  • Avoiding Lawsuits
  • Keeping your Identity Private
  • Purchase and Sale Prices Secret
  • Easy Transfer of Ownership
  • Avoid Probate Court
  • Reduced Acquisition and Selling Cost
  • Reduce Point of sale Property Tax Increase
  • Avoid seller Seasoning Requirements

Complete Step by Step on how to set up a Private Trust, operate it, the benefits and all the forms that go with it.

When owning real estate for investment or a home to live in you want to utilize this little known technique typically used by the “In the Know Wealthy”.

I provide everything you need to know and do to set up you own Private Trust.

Q & A

When we purchased the property, I personally prepared the documents and deed and assigned a trustee (a relative). At closing, the documents were examined by the attorney with Chicago Title where we closed. Everything went fine.

Now we are ready to sell the property. I just want to be prepared ahead of time – so here are my questions.

Must the trustee sign as seller on the purchase agreement?

Technically yes. I have signed myself as  beneficiary and had no problems. Probably because they had a copy of the Trust showing me as beneficiary. Typically, I send my Trustee to closing while I’m busy doing something else. The title company does require a copy of the Trust Agreement to verify that your Trustee has the authority to sign for the Trust.

What are the logistics of deeding the property? Can the title company simply prepare the deed and overnight it to the trustee for notarized signature? (Trustee is in Illinois)

Title companies do not prepare deeds. They have an attorney do it and there is a charge. My assistant who is my Trustee prepares all my paperwork or I do it myself. There is also the State Disclosure form, and a transaction acknowledgment form for the County Recorder. Required for all deed recordings. You should call the County Recorder’s Office, Title Company, and verify everything you will need for the closing.

At closing, I would like the check made out to our company name, not the name of the trust or trustee. How can that be done?

As beneficiary, you or you have your Trustee to prepare a Letter of Direction to the title company to pay the proceeds of the sale to your company.

https://www.propertyjaguar.com/course/savvy-real-estate-owner-using-private-trust/

April 18, 2017

1 responses on "Private Trust - Protecting Your Real Estate from Lawsuits"

  1. Wow, this is excellent.

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