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Updated over 7 years ago, 04/29/2017

User Stats

50
Posts
29
Votes
Michelle Mapp
  • Investor
  • Pasadena, CA
29
Votes |
50
Posts

Land Trust Attorney in CA

Michelle Mapp
  • Investor
  • Pasadena, CA
Posted

So , I don't know if I have ever heard so many different stories as I have regarding Due on Sale Clauses, changing title to an LLC or Land Trusts.

I can not believe how many people I have spoken to and how many articles I have read that all give me different stories.  What I am looking for seems pretty simple to me.  I would like to find someone in CA (where I live) who can do a Land Trust.  We want to transfer two properties in PA into the name of our LLC but would like to avoid any risk of Due on Sale clauses.  Seems like a simple thing right.  Well, apparently we don't use them much in CA and I have talked to 4 different people/firms and none of them do Land Trusts.  

Some advice I have been given: 

1) just transfer your property from your personal name (my husband an I) to the LLC - no one enforces those clauses

2) if the current title is 50/50 for husband/wife and the LLC is 50/50 for husband/wife then there is no issue - its basically the same

3) We don't do land trusts in CA

I do not want to take the risk of the Due on Sale clause, particularly with one lender who I would expect would actually enforce it.  

So - advice?  Recommendations for a Land Trust attorney?  

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