[quote=momma mia] . . . I have trust documents sitting on our kitchen counter waiting to be signed, but the documents have the trust named after our family name…. and I was beginning to think we should consider renaming the trust to something that has nothing to do with us so that the identity thieves can’t find us…
But now that I hear that you can’t get a LOAN on a piece of property if it’s in a trust without your family name???? Is this really true?
I don’t know what we are going to do…. :([/quote]
momma mia, you can’t get a loan at all in the name of a trust.
You will take title in your own names and THEN transfer the property to your trust. You can do this all in the same day if you can get the escrow officer to draw up a quitclaim deed to your family trust.
I wouldn’t worry about identity thieves possibly viewing your original grant deed and deed of trust at the recorder’s office. There are no SS numbers on there and nothing for them to steal in order to assume your identity.
Well I am searching this because someone is trying to kill me
So the only info on me is at the tax office! It’s easy to put electric bill in any name
Just use your social security number and when they ask your name tell them different name! I would appreciate if someone that knows how I can get my house out of my name but keeping ownership! I only owe on the land 20,000 but I paid cash for my house to be built. I can’t afford to pay off land . I been here 8 years but can’t sleep, In fact it is 7:30 am and haven’t slept yet and sober FYI . Should I talk to lawyer (liar) or can someone here tell me simply how to get house out my name without paying off land!
Thanks in advance!
You need to do a Declaration of Trust and have it notarized. You will be the trustee of the trust. You can do it yourself or pay a lawyer or a specialized service to it for you. People have said about $600 to $1200 cost.
Then you do a quit claim to transfer to property out of your name to the trust. Again, you can do it yourself or pay a title company or lawyer to do it for you.
For most people who have simple estate planning, they could do it themselves using some of the tools and info available on the Net.
BTW, it doesn’t matter if you still owe of the property. You’re still responsible to pay the mortgage.
Even if you transfer it to a trust, the individual owner’s name will be available to someone who’s looking for the individual because the transfer and prior owner’s information will be public.
Might want to talk to an attorney or talk to someone in public records. The best way to keep your name out of public records would be to never have the property in your name at all. Not sure that’s possible if you have a recorded mortgage of any kind, as most lenders require everything to be in your personal name.
He should use a trust name that is meaningless. Some people use names like the John Doe family trust. If he uses his initials then anyone looking would know that it was a transfer better and individual and his trust.
No way to keep name out of the public records if you get a mortgage in your personal name.
Banks usually don’t lend to trusts only to individuals.
If you pay cash you can record in the trust’s name only.
I paid cash for a condo and the idiot escrow officer thought it was a good idea to record the trustee’s name along with the trust. But there’s no requirement to do that. I had to make her correct it but my name went into the public records.
