[4plexowner]

You need legal / tax advice – not anonymous blog advice

Changing the name on the deed to the trust name could be as simple as filing a Quit Claim deed where you are the grantor and you grant the real property to the trust – fill out the form and take it to the County Recorder’s office for filing – Nolo Press probably has guide books and forms to help do this

There is a form that you fill out to file the Quit Claim – it will ask what type of transfer is being accomplished – a transfer from you to a trust controlled by you should not trigger any tax consequences but again, I’m neither a lawyer or a CPA – what you want to avoid is having the property re-assessed at its current value which would result in increased taxes (unless you bought from 2003-2007!)

Setting up the trust is a separate issue – there are several different types of trusts and they accomplish different things – since real estate is involved I’d want to be very clear about managing / controlling the property from within the trust – again, I’d go to Nolo Press as a starting point – they will have the guide books and forms – even if you decide not to do the forms / filing yourself, you will save time/$$$ at the lawyer/CPA’s office if you have done some research ahead of time

Something else to consider: unless you have over $3.5 million in assets when you die there are no estate taxes so money spent ‘avoiding probate’ might be money wasted – the trust could, however, be used to specify exactly how the property is managed after you pass on even if you don’t exceed the $3.5 mil marker

[4plexowner]

You need legal / tax advice – not anonymous blog advice

Changing the name on the deed to the trust name could be as simple as filing a Quit Claim deed where you are the grantor and you grant the real property to the trust – fill out the form and take it to the County Recorder’s office for filing – Nolo Press probably has guide books and forms to help do this

There is a form that you fill out to file the Quit Claim – it will ask what type of transfer is being accomplished – a transfer from you to a trust controlled by you should not trigger any tax consequences but again, I’m neither a lawyer or a CPA – what you want to avoid is having the property re-assessed at its current value which would result in increased taxes (unless you bought from 2003-2007!)

Setting up the trust is a separate issue – there are several different types of trusts and they accomplish different things – since real estate is involved I’d want to be very clear about managing / controlling the property from within the trust – again, I’d go to Nolo Press as a starting point – they will have the guide books and forms – even if you decide not to do the forms / filing yourself, you will save time/$$$ at the lawyer/CPA’s office if you have done some research ahead of time

Something else to consider: unless you have over $3.5 million in assets when you die there are no estate taxes so money spent ‘avoiding probate’ might be money wasted – the trust could, however, be used to specify exactly how the property is managed after you pass on even if you don’t exceed the $3.5 mil marker

[4plexowner]

You need legal / tax advice – not anonymous blog advice

Changing the name on the deed to the trust name could be as simple as filing a Quit Claim deed where you are the grantor and you grant the real property to the trust – fill out the form and take it to the County Recorder’s office for filing – Nolo Press probably has guide books and forms to help do this

There is a form that you fill out to file the Quit Claim – it will ask what type of transfer is being accomplished – a transfer from you to a trust controlled by you should not trigger any tax consequences but again, I’m neither a lawyer or a CPA – what you want to avoid is having the property re-assessed at its current value which would result in increased taxes (unless you bought from 2003-2007!)

Setting up the trust is a separate issue – there are several different types of trusts and they accomplish different things – since real estate is involved I’d want to be very clear about managing / controlling the property from within the trust – again, I’d go to Nolo Press as a starting point – they will have the guide books and forms – even if you decide not to do the forms / filing yourself, you will save time/$$$ at the lawyer/CPA’s office if you have done some research ahead of time

Something else to consider: unless you have over $3.5 million in assets when you die there are no estate taxes so money spent ‘avoiding probate’ might be money wasted – the trust could, however, be used to specify exactly how the property is managed after you pass on even if you don’t exceed the $3.5 mil marker

[4plexowner]

You need legal / tax advice – not anonymous blog advice

Changing the name on the deed to the trust name could be as simple as filing a Quit Claim deed where you are the grantor and you grant the real property to the trust – fill out the form and take it to the County Recorder’s office for filing – Nolo Press probably has guide books and forms to help do this

There is a form that you fill out to file the Quit Claim – it will ask what type of transfer is being accomplished – a transfer from you to a trust controlled by you should not trigger any tax consequences but again, I’m neither a lawyer or a CPA – what you want to avoid is having the property re-assessed at its current value which would result in increased taxes (unless you bought from 2003-2007!)

Setting up the trust is a separate issue – there are several different types of trusts and they accomplish different things – since real estate is involved I’d want to be very clear about managing / controlling the property from within the trust – again, I’d go to Nolo Press as a starting point – they will have the guide books and forms – even if you decide not to do the forms / filing yourself, you will save time/$$$ at the lawyer/CPA’s office if you have done some research ahead of time

Something else to consider: unless you have over $3.5 million in assets when you die there are no estate taxes so money spent ‘avoiding probate’ might be money wasted – the trust could, however, be used to specify exactly how the property is managed after you pass on even if you don’t exceed the $3.5 mil marker

[4plexowner]

You need legal / tax advice – not anonymous blog advice

Changing the name on the deed to the trust name could be as simple as filing a Quit Claim deed where you are the grantor and you grant the real property to the trust – fill out the form and take it to the County Recorder’s office for filing – Nolo Press probably has guide books and forms to help do this

There is a form that you fill out to file the Quit Claim – it will ask what type of transfer is being accomplished – a transfer from you to a trust controlled by you should not trigger any tax consequences but again, I’m neither a lawyer or a CPA – what you want to avoid is having the property re-assessed at its current value which would result in increased taxes (unless you bought from 2003-2007!)

Setting up the trust is a separate issue – there are several different types of trusts and they accomplish different things – since real estate is involved I’d want to be very clear about managing / controlling the property from within the trust – again, I’d go to Nolo Press as a starting point – they will have the guide books and forms – even if you decide not to do the forms / filing yourself, you will save time/$$$ at the lawyer/CPA’s office if you have done some research ahead of time

Something else to consider: unless you have over $3.5 million in assets when you die there are no estate taxes so money spent ‘avoiding probate’ might be money wasted – the trust could, however, be used to specify exactly how the property is managed after you pass on even if you don’t exceed the $3.5 mil marker

[4plexowner]

You can transfer your house to an LLC that you and your family control 100% – this is not a sale but a transfer

If you are talking about the LLC obtaining a mortgage in order to buy the house I don’t know how you would go about doing that – the LLC would have to have a documented income stream

[4plexowner]

You can transfer your house to an LLC that you and your family control 100% – this is not a sale but a transfer

If you are talking about the LLC obtaining a mortgage in order to buy the house I don’t know how you would go about doing that – the LLC would have to have a documented income stream

[4plexowner]

You can transfer your house to an LLC that you and your family control 100% – this is not a sale but a transfer

If you are talking about the LLC obtaining a mortgage in order to buy the house I don’t know how you would go about doing that – the LLC would have to have a documented income stream

[4plexowner]

You can transfer your house to an LLC that you and your family control 100% – this is not a sale but a transfer

If you are talking about the LLC obtaining a mortgage in order to buy the house I don’t know how you would go about doing that – the LLC would have to have a documented income stream

[4plexowner]

You can transfer your house to an LLC that you and your family control 100% – this is not a sale but a transfer

If you are talking about the LLC obtaining a mortgage in order to buy the house I don’t know how you would go about doing that – the LLC would have to have a documented income stream

[4plexowner]

delay seems like the best strategy for the banks to employ at this point for any number of reasons

I posted the link because it was the first place I saw the 600K and 80K numbers

as to your question, I’d say, does it really matter whether the ‘hidden inventory’ is ‘on the market’ or not? once the consumer has the perception that the ‘hidden inventory’ exists it might as well be on the market anyway – right back to supply and demand, only now the previously hidden inventory has to be included in the supply column and what happens to prices as a result?

[4plexowner]

delay seems like the best strategy for the banks to employ at this point for any number of reasons

I posted the link because it was the first place I saw the 600K and 80K numbers

as to your question, I’d say, does it really matter whether the ‘hidden inventory’ is ‘on the market’ or not? once the consumer has the perception that the ‘hidden inventory’ exists it might as well be on the market anyway – right back to supply and demand, only now the previously hidden inventory has to be included in the supply column and what happens to prices as a result?

[4plexowner]

delay seems like the best strategy for the banks to employ at this point for any number of reasons

I posted the link because it was the first place I saw the 600K and 80K numbers

as to your question, I’d say, does it really matter whether the ‘hidden inventory’ is ‘on the market’ or not? once the consumer has the perception that the ‘hidden inventory’ exists it might as well be on the market anyway – right back to supply and demand, only now the previously hidden inventory has to be included in the supply column and what happens to prices as a result?

[4plexowner]

delay seems like the best strategy for the banks to employ at this point for any number of reasons

I posted the link because it was the first place I saw the 600K and 80K numbers

as to your question, I’d say, does it really matter whether the ‘hidden inventory’ is ‘on the market’ or not? once the consumer has the perception that the ‘hidden inventory’ exists it might as well be on the market anyway – right back to supply and demand, only now the previously hidden inventory has to be included in the supply column and what happens to prices as a result?

[4plexowner]

delay seems like the best strategy for the banks to employ at this point for any number of reasons

I posted the link because it was the first place I saw the 600K and 80K numbers

as to your question, I’d say, does it really matter whether the ‘hidden inventory’ is ‘on the market’ or not? once the consumer has the perception that the ‘hidden inventory’ exists it might as well be on the market anyway – right back to supply and demand, only now the previously hidden inventory has to be included in the supply column and what happens to prices as a result?

[Author]

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