**UPDATE** Attorney for settlor is claiming that she wants to revoke the trust and sell it to the investor bene using “conventional” methods (note and deed of trust) and is demanding that his client has no recourse in the current landtrust arrangement because it “wasn’t recorded”. (arguing that the IB could sell the property tomorrow and not pay the settlor another dime) After I stopped laughing, I asked him how many boxtops he had to mail in for his BAR certificate!
Attorney called yesterday and says, “I think we can call this whole lawsuit off for my fees of $5000″…. We said “Uh, NO”… So now he is going back to his client to see if she will pay his fees instead. Remember, we TOLD him she wouldn’t pay him.