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Jean Norton
Investor
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Contract for Beneficial Interest of a Land Trust
Saturday, February 04 2012 03:40 PM
Randy,
I've used Land Trusts for the last 1.5 years and sort of learned it by the seat of my pants...I didn't find your course in time.
However, I would appreciate if you could answer this question for me. My company is beneficial interest in a trust which has title to a property. I want to "seller finance" or "contract for deed", or more appropriately "contract for beneficial interest in a trust".
Have you seen this happen? How do I foreclose should they stop paying? Do I change the beneficial interest to the new party but remain as trustee? What do you recommend?
Jean Norton
http://jeannortoninvestor.com
http://rehabbingremotely.com
http://facebook.com/jeannortonaustin
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Randy Hughes
Land Trust Expert-40+ years of experience
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Re:Contract for Beneficial Interest of a Land Trust
Saturday, February 04 2012 05:03 PM
Jean,
See my comments below in BOLD.
I've used Land Trusts for the last 1.5 years and sort of learned it by the seat of my pants...I didn't find your course in time.
However, I would appreciate if you could answer this question for me. My company is beneficial interest in a trust which has title to a property. I want to "seller finance" or "contract for deed", or more appropriately "contract for beneficial interest in a trust".
Have you seen this happen? YES, I DO THIS REGULARLY.
How do I foreclose should they stop paying? Do I change the beneficial interest to the new party but remain as trustee? What do you recommend?THIS IS ALL EXPLAINED IN DETAIL IN MY LAND TRUSTS MADE SIMPLE HOME STUDY COURSE. BUT, BASICALLY IF THEY STOP PAYING YOU "REPOSSESS" THE BI...SINCE THEY ARE BUYING PERSONAL PROPERTY...NOT REAL PROPERTY.
HERE IS A LINK TO MY HOME STUDY COURSE: http://www.realestateforprofit.com/secure/products.aspx?cid=14
Jean Norton
Randy Hughes
866-696-7347
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