Home owned by trustee, what does it mean?

[Brandon Stewart]

So I'm searching through my county tax records for people who way be motivated, and most of the homes I see are owned by trustees. I was hoping someone could help me understand it a little more.

What I know so far is that the trustor living in the home is using their house as collateral to borrow money.

However, the county tax records show that the title is still in the hands of the trustee. Is it safe to assume there's a lien on the title?

Also, if I wanted to buy the home, do I negotiate with the trustee or the trustor? It may seem like a dumb question, but I just want to make sure I know what I'm talking about before I take any action.

I'm considering doing a lease option assignment, between the seller and tenant buyer. I'd like to make sure the trustee situation won't mess up the deal.

[Jason Dillard]

Property may be in Land Trust.   This hides the actual owner. The trustee holds title and the beneficiary is unknown.   When you contact the trustee he or she may not disclose who owns the property.  

I like holding title to houses in Land Trusts.   This gives you some anonymity which may keep you out of the courtroom. It is inexpensive and easy to hold title in separate trusts for each property. The trusts do not require a separate tax return, it's simply a flow-through entity.