Title Holding Trust - Checklist, Docs, Agreements

[Matt Yates]

We are exploring the options of buying all our properties through a Title Holding Trust, or individual THT for each property. Curious if anyone has a complete checklist, doc templates, etc. for us to review. We will eventually most likely use an attorney to set this up, but would like templates to review for our own knowledge and possibly save us costs from drafting them from scratch. We are looking for the following:

- simple land trust

- beneficiary agreement

- assignment of beneficial interest

- occupancy agreement

- any relevant addendums/riders specific and unique to the particular transaction of "Lease Options" from the Trust to a potential end buyer.

- Recommendation on non interested third parties that act as Trustees. Would prefer them to be a corporate structure. We also do NOT want any recommendations to anyone YOU haven't used before.

Any tips, tricks, links, directions would be good. Would love to network with those currently utilizing these strategies for their Lease Option purchases.

We've heard the following people have great documentation, and knowledge. Anyone used the following and/or care to share the docs you have?

- Randy Hughes (http://www.realestateforprofit.com/landtrusts.aspx)

- Dawn Rickabaugh (http://notequeen.com/cost-of-the-title-holding-land-trust-transfer-system/)

Thanks guys for your help!

[Will Barnard]

Just found this thread.
I have used and closed many transactions using a simple land trust.
You will need the following:
Trust certification - I can send you a sample of this.
Trust Declaration - which is basically the legal stuff for the trust, similar to an operating agreement for a corporation/LLC - I can not give you mine as it contains proprietary info and I am not allowed to share it, however, any competant RE ttorney should already have one or could easily draft one.
Notice of Termination of Trustee - I can send you a sample
Termination of Trustee - I can send you a sample
Successor Trustee Acceptance - I can provide sample
Successor Trustee Letter - I can provide sample

I would recommend you use someone you trust to be your trustee (after all, "trustee" does have the word "trust" in it!) Kidding aside, be careful.

A trust provides zero liability protection so I would suggest using it along with an entity or overly adequate insurance umbrellas.

I have never done a lease option so I have never used a land trust for such purposes, I have ONLY used them for acquisitions of REO deals for wholesaling and rehab flipping. With REO and short sales, you may not assign the contract per bank addendums, thus, the land trust is a cirumvention of that language.