All Forum Posts by: Ashwin M.

This is an old thread but lots of very useful information. I was wondering how the current situation in San Marcos has panned out. specifically looking at some of the new construction homes by Lennar. Does the growth story of San Marcos continue? I see some of these new construction homes are being listed for rental and few have stayed listed for 2-3 months...do these eventually rent out. The cash flow prospects seem so good but just wanted to make sure it is really feasible..especially based on current inventory. Am in interested in townhomes of SFH for investment in the area. How does New Braunfels compare today. Is the flooding situation still something to research further for this area as mentioned on this old thread?

Quote from @Chris Seveney:

@Ashwin M.

Assuming it’s a living trust

With our home it was acquired and mortgage in our name and subsequently we transferred it to the trust

We let the lender know this was our intention and title company and neither had an issue with it as long as deed holders were the trustees of the trust

Hope that helps

Note not legal advice just sharing our story

Thanks @Chris Seveney. Appreciate you sharing your experience. Yes it is indeed a living trust. does such transfer to trust and recording it require the owner's in-person attendance or can be done remotely via a real estate attorney? Since this is a factor for out-of-state investments.

Hello all, I am close to getting into contract on a rental investment property in Raleigh suburbs (Johnson county, NC). I am from CA and have had a family trust for a couple of years. My CA real estate attorney had advised back then that even any out-of-state property I purchase should be moved into the trust. My query was, as I review the contract documents I see the deed assignment is to my name. Seller (new home builder) mentioned they can assign it to trust if I provide all the trust documents to provide it is an active entity that I can sign for.  My only doubt was the mortgage would be in my individual name so does that preclude having the property deed in trust name (is that considered a mismatch?). Sorry if this is a basic query but I have differing views since one contact mentioned it is better to assign deed to my individual name (to match loan) and then move it to trust AFTER closing....however, I am not sure about the complications there since my CA attorney told me that process will need confirmation that title insurance will still honor claims for property transferred into the trust.  Hearing that, I feel that if it is cleaner to just have the deed assigned to the trust from the get go (as long as mortgage/lender process has no issues), I would prefer that. I am trying to find a NC attorney to get the local views on this but since I need to sign the contract soon, I wanted to reach out here as well.