Land trust to facilitate loan assumption

[Joel Fischer]

I am thinking about purchasing SFH. I know that loan assumption is often difficult because banks usually do not approve these arrangements. I am wondering if the use of a land trust might be helpful. Simple plan: Land trust is created. Current owner places the property in the trust and he is the beneficiary. He then sells me the beneficial interest for agreed amount and I assume current mortgage. By performing this transfer within the trust can I avoid Due on Sale clause of current mortgage?