There are three parties involved:The grantor or settlor, who creates the trust and transfers property ownership to it.The trustee, who manages the trust according to the specific wishes of the grantor or settler.The beneficiary, who stands to benefit in some way from the terms of the land trust.As the grantor or settlor, you would decide which real estate assets should be transferred to a land trust and what terms the trustee must follow in managing those assets.

BC has a transfer tax, so it adds to the cost of buying and is also tenant friendly.

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Here is a link to a listing for the property which has photos and other details: 457 E Milwaukee St, Detroit, MI 48202 | MLS #2200098822 | Zillow

What I’m referring to is an agreement that is recorded somewhere, perhaps in the deed transferring the properties, that would be binding on any future buyers.

It is good to know that inflight evictions could be transferred to a different PM.

@Dave E.

On my last loan the bank would not allow me to transfer the deed to a LLC without the loan being able to be called due.

@Angelica CasanasIf the owner purchased the property with a loan, seller financing is likely out of the picture.You can potentially check the county records if there is a mortgage on the property.There is a good chance that the owner will likely not sell unless there is significant appreciation from the price that they purchased it.The seller likely paid around 5% in admin costs(title work costs, transfer taxes, etc) upon purchase and will likely pay another % in fixed costs upon sale. the seller will likely avoid seller agent fees if no agent is used but there is still other costs that must be paid.As an investor, never get stuck on one property, if you think it will work, go for it, otherwise, just move on.

Is it possible to transfer title of my parents current home into mine and my two brothers names, sell home, then take profit to put a down payment on a 125k home and get mortgage and title in all three of our names?