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Craig
Warner Properties Inc
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Finding a reliable Trustee
Tuesday, December 02 2008 11:47 AM
I am looking for a reliable trustee to deed the rental property to (3 plex). I am going to be a beneficiary (1 of 3) of the trust so that leaves my Corporation out, so how do I find a reliable trustee. Randy got any ideas here in Albany New York?
By the way my Corporation is available to act as trustee for other properties. Warner Properties Inc. Incorporated in New York. My corporate business partner is a registered CPA in NY city and also holds a law degree.
Craig Warner
Warner Properties Inc.
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Randy Hughes
Master Advisor-39 years of experience
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Re:Finding a reliable Trustee
Wednesday, December 03 2008 04:54 PM
Craig,
Do you have our Advanced Course? If so, there is a Trustee named in the course for you to consider. If not, ask your attorney or a local title company to serve as trustee. Or, go to our "state-by-state land trust laws" link on our home page at: www.realestateforprofit.com
Randy Hughes
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Craig
Warner Properties Inc
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Re:Re:Finding a reliable Trustee
Thursday, December 04 2008 11:19 AM
No I purchased the basic course and should also review that this weekend and also purchase the advanced course.
Craig Warner
Warner Properties Inc.
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Jim Hughes
Investor
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Re:Finding a reliable Trustee
Thursday, December 04 2008 05:42 PM
Just adding to what Randy said -- I also recommend you develop a relationship with several real estate investors that you know and trust and then consider being TRUSTEES for each other. Investors can be more empathetic with the need to respond quickly when needed.
But with the above said, don't be cavalier when choosing a personal trustee. There needs to be a good level of trust, maturity and consistent and persistent stable behavior before you appoint them as a trustee. I would have a brother-in-law as trustee if my sister and him had a bumpy relationship.
Order our Land Trust Made Simple - Advanced home study course and see the techniques we use in selecting trustees. Also learn how to protect yourself from a trustee that turns bad or doesn't respond to your needs.
Hope our answers help assist you in the process of mastering the essential knowledge needed to administer your own land trusts.
Sincerely,
Jim Hughes
www.realestateforprofit.com
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