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Updated over 6 years ago,
Subject-to help with closing process
I'm trying to close my first subject-to deal and my title company is unfamiliar with the process. Being that it's my first one I'm not exactly sure how to explain it to them either. My understanding is that the property gets put into a land trust, and then the owners assign me beneficial interest into that land trust. Am I right so far?
The title company is asking me if the warranty deed goes into my name or into the name of the trust. I'm thinking it's the trust but figured I'd ask the experts at BP!
Is there anyone out there that would care to explain the closing process to me, or help me to get a better understanding?
Thanks,
Alec