Purchasing In A Living Trust Versus An LLC With Conventional.

[Jerry Padilla]

I am only a financing expert, not an attorney so I don't know the legal benefits of each...... But I am seeing more investors geared towards a possible living trust lately and wanted to do a post on this topic. Before doing this I would definitely speak with your local real estate attorney. 

Here is a breakdown of the guidelines we go by for a living trust-

Purchasing Investment Property With A Living Trust;

You can purchase with a living trust - except in the state of Texas.

-You must be within the state and local regulations and requirements

The borrower must be the;

-The settler (person who created the trust)

-The beneficiary

-The trustee (the person who will administer the trust to the beneficiary)

Eligible for;

1-4 unit primary homes

1 unit second homes

1-4 unit investment properties

Requirements;

-An attorney opinion letter

-Complete copy of the trust documents certified by borrowerer