That would give your tenants some assurance in transferring funds etc. which seems to be the goal.

The twist is that the dovetail method hides the transfer of real property because what gets transferred in the trust is "personal property" not real property.

LLC setup and deed transfer will cost you money though.

It’s my understanding that this warrants me to be liable for the title after the transfer rather than a quit claim deed which would not therefore terminating the policy.

The mortgage company that extended you credit wants their money once you have transferred the collateral to another person.Assuming you don't want to pay off your current loan with cash and then do owner-financing this really isn't an option for you.

He told me its fine and that i can just sign the property over to my LLC and pay the transfer tax.

Ithe wind warranty on Tamko is "Backed by a 30-year limited warranty, with 5 year Full Start, limited transferability, and a 60-month limited warranty against damage from wind up to 70 mph. ", but we do at least occassionally get winds at 70 mph.That's a lot of money to me.

Just have them transfer the funds to the new account temporarily.

He still ownes the property untill the sale is done and title is transfered to the bank or new owner . it is a bad situation but you are obligated to the contract you have with the owner, his problem with the bank is his problem unfortunatley you are involved . there is always the chance he might save the property that is his right . even if forclosed the banks still have to give you some time i think three months and some times even the lenght of the rental contract . these are new laws to protect renters in theses events. problem is foreclosure his problem rent payment is yours and you still have to pay or move.

In other words, if you are going to target REO properties, your offers should be all cash, very quick closings and you must get your hands on them BEFORE they hit MLS.Or you can target distressed homeowners (motivated sellers) in danger of foreclsoure or behind on their mortgage, job transfer, divorce, etc.