Subject To Through Land Trust Need Help
I am trying to understand how land trusts are used to buy homes subject to the existing mortgages, without alerting the mortgagee to the fact that ownership of the property has changed. What I don’t understand is how, after the transaction has been completed between me and the seller, am I going to be able to get the seller to sign over their beneficiary interest?
Is it that when transferring property into a land trust, you no longer need a new deed, the transaction is completed entirely by the creation and terms of the land trust?
I do understand that land trusts don't make you immune to the due on sale clause, but am I correct in thinking that they greatly reduce the chance that the lender will notice?