January 7, 2009 at 1:50 pm #5364
I am new here and just starting to read some of the threads and get a handle as to just what this board is – or is not.
I am in Florida and from a quick look it would appear most on this forum are on the West Coast. I have been told that the FL Land Trust is a little different animal than some other states but don’t know the differences.
I am looking for info on FL land trust – I have paid for a course, forms and sim. on them but found that it was just a come on to having to pay for more and more courses/sims to get ALL the information.
As I understand it, you are using land trust and going further with them to reap more benefits.
One question I have is if one is having a seller place property into a land trust and then purchasing the trust, does it need to go through the normal escrow and title change?
I will spend more time here – it looks to have some great info and I thank all for your input. – jbJanuary 7, 2009 at 6:13 pm #28012
Hello jeb -
My name is Joe Cain and I have Administrator privileges on this Board. I appreciate your contact and welcome you in to the universe of The Bill Gatten Center and North American Realty Services, Inc. Thank you for getting in touch. As you move forward farther into what occurs here, you will likely see the advantages of that which we offer over other guru’s products and services.
Who we are is an agency set up to train folks all over the country how to generate transactions using the Land Trust as a vehicle to acquire property, get out from under bad loans and assist those disenfranchised millions actually achieve the Great American Dream of Home Ownership. We are based in Southern California and have been in business for nearly twenty years. Our educational team travels from city to city all across the United States, hosting weekend-long Seminars and Workshops, offering customer service and support, and generating the legally reviewed Documents to help folks place properties into individually, hand-crafted transactions using the Land Trust in place of other, less protective forms of creative real estate.
I have worked for Bill Gatten for nearly five years, known him for about twice as long, and, in addition to my help here on the Discussion Board, my main role here is to generate the full and complete sets of Documents used to place properties into Land Trust and assist those who desire to acquire beneficial interest in said Trusts. I can assure you that these transactions are being generated on a regular basis by many people in the great State of Florida, legally, morally and ethically.
This coming weekend, Friday, January 9th thru Sunday, January 11th, we will be in Ft. Lauderdale, Florida for a 2.5 day Seminar at the following location:
A Doubletree Guest Suites Hotel
2670 East Sunrise Boulevard
Fort Lauderdale, Florida 33304-3206
Friday, January 9: 6 pm – 9 pm
Saturday, January 10: 9 am – 9 pm
Sunday, January 11: 9 am – 6 pm
Click here to RSVP:
Please consider the possibility of being pro-active and plan to join us in South Florida this weekend in order to further your own knowledge base. I get that this may be short notice for you, yet I would ask you to consider the possibility that you have found our website and made contact with us through our Discussion Board at exactly the same moment when we will be in your State to teach you and many others exactly how this can be facilitated and done properly.
In general, I would suggest continued reading and study of the materials available to you on this site for FREE, including this Board. There is a wealth of information at your fingertips and I encourage you to read it all.
Also, in the future, please post in the first section of the General Board, entitled “PACTrust/EHT Topics and Creative Real Estate Financing”, as this is the section of our Forum most often read by the majority of visitors to our website.
Again, welcome to you, and please contact us as you move forward and let us know how we can assist in your success. I hope to hear from you and encourage you to consider the possibility of joining us this weekend.January 7, 2009 at 7:30 pm #28013
Hey jeb — Welcome to the boards.
… it was just a come on to having to pay for more and more courses/sims to get ALL the information.
Welcome to the world of creative profit making through selling courses. Don’t worry, a lot of us have been through that grinder.
Bill’s seminar gives you all the info you need in one shot. There’s no upsell for more courses to get the rest. Plus the price is a steal for what you get. I’ve forked over tens of thousands to other losers’ courses, sorry to say.
There’s a membership available for those that’s beneficial for those that are actually going to put the material for use, but that’s separate from the core knowledge. If you actually USE the material on a regular basis, it’s a valuable thing to have. Don’t buy it if you’re just going to sit on your duff.
One question I have is if one is having a seller place property into a land trust … does it need to go through the normal escrow and title change?
Placing a property into trust goes through a closing.
and then purchasing the trust,
I’m not sure what you mean when you say “then purchasing the trust”. The owner places his property into his own trust for his own benefit. The assignment of a remainder agent is a prudent thing for the settlor to do for any trust.
The assignment of beneficial interest is a separate matter. That’s personal property unrelated to the house (which is real property).
I will spend more time here – it looks to have some great info
This is the one board where the experts hang out. Seriously. “Search” will be your friend.
Disclaimer: My two bits only. I’m just a flunky flapping my yap based on my own experience. I don’t get anything to blow smoke or get lung cancer.January 8, 2009 at 2:10 am #28014
James what do you mean with:
Placing a property into trust goes through a closing.January 8, 2009 at 6:56 am #28015
James what do you mean with:
Placing a property into trust goes through a closing.
? Not sure what you mean by “what do you mean”.
Closing … title company, escrow, etc.
Of course, if I’m misleading people??? the great minds here can jump in at any time. I’m just a flunky shooting his mouth off.January 8, 2009 at 11:59 pm #28016
This thread actually belongs in another forum but I’ll chime in.
Oh, and welcome to Jeb.
With regard to a Trust going through an Escrow Closing…
All that is required to put a propert “in to” a trust or “in” trust is for the owner to deed it to either the trust or the trustee in the case of a Land Trust and pay the filing fee. However, when you go to name other beneficiaries and one of those is going to occupy the property much in the same fashion as a “Lease Option” type arrangement thats where things change.
When using a Land Trust or in this case the NARS EHTrust, it is not required or necessary to use a Title or Escrow Company to “Close” your deal with your Resident/Buyer. What is required is a Notary for some of the documents. However, unless you are an experienced escrow officer and can do a net sheet and prorates etc, I suggest you use a title company to close all your transactions.
Also, unless you personally or your LLC or other is licensed and bonded to receive, hold and disburse funds, you should never never never ever ever ever have a seller, buyer or resident of your EHTrust make a payment of any kind to you or your LLC.
I always use an Escrow and Title Company to close. That includes receiving, holding and disbursing all funds. The Resident Buyer / RB always makes their initial contribution or deposits directly to the Title Company. I never ever touch anyones money or have checks made to me or my LLC, ever.
Yes, there is a fee for their services but it is only a few hundred bucks and the Resident pays for it anyway.
Now, with regard to Jeb’s reference to “purchasing a trust”. No, no one purchases a trust. A would-be buyer or leasee either purchases the property from the Trustee or Leases the property from the Trustee, who is now the true and legal owner of the property.
Also remember, a Seller or Owner, does not place their property “in to” a “Land Trust”, they vest or convey thier title to a Trustee, who now becomes the legal owner of the property. The Trust does not hold the property or own it. The Trust is only a set of documents.
In the case of a Family Type Revocable Living Trust, the property IS placed “in trust” and the trust does own the property. Thus no Privacy or Protection is afforded a “Real” Property in a Standard Revocable Living Trust.January 9, 2009 at 6:09 am #28017
Thanks for clarifying the nitty-gritty, Scott.
If I stick my neck out and display my ignorance, I end up learning a lot.
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