When I started investing in 2003, I learned very fast from my mentor that asset protection is critical. We live in a very litigious society. Pure and simple, people want your money. People will sue you over a drop of a hat! You must protect yourself.
Karen Hanover, you yourself have been threatening to sue me, get everything I own, and throw me in jail. This is exactly why asset protection is there. “Never OWN anything. Control everything”
You have never applied any asset protection to anything you have done, because you have never done anything. I have shown you proof and files of my deals.
Karen, I bet you did not know that not only can you put houses in trust, but you can also put personal property into a trust, your bank accounts and your vehicles into trusts. I wonder why you never found nothing on me!
I am surprised that with your claim that your father is a judge that he did not teach you that. By the way, I looked through every state records for a judge with your fathers name. NOT – Just one more lie.
So today Karen is your lucky day:
Here are the steps to put a house into a trust
1. Sign a contract with the Seller “Subject-To” the existing mortgage(s)
2. Have the seller sign the “Seller’s Property Disclosure Statement”
3. Have the seller sign the “Seller’s Affidavit”
4. Next, have the seller sign a power-of-attorney “Trustee Authorization” regarding insurance and taxes.
5. Seller then signs “Seller’s Mortgage Disclosure Statement” regarding the terms under which you will be taking over the payments on the mortgage.
6. Next, have the Seller sign “Authorization to Release Information” , which allows the mortgage company to release all the information regarding the loan they hold on the property – if more than one mortgage, have Seller sign one for each.
7. Seller then signs “Letter to Lender: Notification of Establishment of Trust” . [Hold this in your property file. This is a safety form – mail it to the lender only if you need to. Do not call attention to the fact that you have established the Trust with the lender.]
8. Seller then signs “Letter to Lender: Notification of Appointment of Management” This is a safety letter – hold it in the property file just in case you need it in the future.
9. Have the seller sign the “Change of Address” form from the seller’s mortgage company. This is the mortgage company’s form that you will use to change the mailing address with the mortgage company.
Now the Seller creates the Land Trust, which will own the property.
10. Seller signs “Appointment of Trustee” (use your Trustee appointee’s name)
11. Seller signs “Appointment of Successor Trustee” (use your Successor Trustee appointee’s name).
12. Seller signs “Declaration of Trust and Land Trust Agreement” naming the Seller as the beneficiary(ies).
13. Have the Seller sign the “Warranty Deed” before a Notary Public.
14. Seller signs “Assignment and Quit Claim of Beneficial Interest in Land Trust” assigning their beneficial interest in the Land Trust to a Personal Property Trust you create for this purpose.
15. You now create a Personal Property Trust. This will receive the beneficial interest of the Seller’s Land Trust. The Seller assigns their Land Trust beneficial interest to this Personal Property Trust.
Note: 16. There is OTHER supporting documentation in creating a land trust!.
17. Important: Before you invest any money in paying a Seller or bringing a loan current, always get a title search from an insured title researcher. Verify that the Seller(s) are the proper parties and that no undisclosed liens exist. Get copies of Seller’s identification with their photo on it.
18. Record the “Warranty Deed” along with the attached “Affidavit of Land Trust and Legal Description in the county courthouse records of the county in which the property is located as soon as possible.
There are plenty of good courses out on the market to help you. I highly recommend Lou Brown’s course material or Lee Phillips. I am sure you can afford them. You certainly took enough people’s money without providing anything in return. You need some good asset protection because people are getting their lawsuits against you in place. The evidence is all against you.