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Updated almost 2 years ago,

User Stats

13
Posts
14
Votes
Yongming Huang
  • Specialist
  • Galveston, TX
14
Votes |
13
Posts

Using property in land trust as collateral

Yongming Huang
  • Specialist
  • Galveston, TX
Posted

I have a property in a land trust, and I'm trying to use this property as collateral toward the down payment of other properties. The bank is ok with that. But the title company requires docs like recordable certification of trust, recordable company resolution for the parent LLC and ratification of the trust. The title company says these are standard requirements. But I understand that the anonymity for the parent entity that would be lost would affect my anonymity forever going forward.

So this can't be done, can it? Does anyone have any experience in this?

I'd also like to find a new attorney who is familiar with land trust and TX series LLC. I'm looking for someone who cares about their clients and will handle my issue. Not the firms that are good at marketing but you can't get hold of the attorney once you become a client. Any recommendations?

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