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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] AZ is a bummer where trusts are concerned... Posted by Ward-CA- on June 26, 2003 at 8:11 AM In Reply to: Re: All the usual protections are present.. posted by Walter on June 26, 2003 at 7:38 AM : Ward, : Yes it does, I think. So would the language on the Quit Claim Deed under Grantee be John Doe, Beneficiary of the Doe 1212 Jones Street Trust, UDT dated 6-25-03? Or would it be XYZ LLC, trustee of the Doe 1212 Jones Streed trust, UDT dated 6-25-03, John Doe as Beneficiary? Or What? Once we have successfully Deeded it into a trust with John Doe as the beneficiary and showing such on the Quit Claim Deed, Can he then assign beneficial interest of the trust to me without recording another deed thereby sidestepping the due on sale clause in his mortgage? Does the assignment of beneficial interest need to be recorded? Do you offer a 5 hour class that will provide me with a Title Holding Trust that will be compliant for Arizona Law. If so, when? : Thankyou, : Walter ================== Walter, I think your deed form might have a section on it for listing your trust beneficiaries and probably an admonition to record a listing of your beneficiaries when their make-up changes. A title officer at you title company could clear that up. The assignment of the beneficial interest is a personal property matter and you don’t record documents dealing with personal property. Sure the title holding trust would be compliant with AZ law, it’s just that having to record who your beneficiaries are, for the whole world to see, is a bummer. Follow Ups: Re: AZ is a bummer where trusts are concerned... jenv 1:23 PM, 06/26/03 (0) Re: AZ is a bummer where trusts are concerned... Walter 1:14 PM, 06/26/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Yes it does, I think. So would the language on the Quit Claim Deed under Grantee be John Doe, Beneficiary of the Doe 1212 Jones Street Trust, UDT dated 6-25-03? Or would it be XYZ LLC, trustee of the Doe 1212 Jones Streed trust, UDT dated 6-25-03, John Doe as Beneficiary? Or What? Once we have successfully Deeded it into a trust with John Doe as the beneficiary and showing such on the Quit Claim Deed, Can he then assign beneficial interest of the trust to me without recording another deed thereby sidestepping the due on sale clause in his mortgage? Does the assignment of beneficial interest need to be recorded? Do you offer a 5 hour class that will provide me with a Title Holding Trust that will be compliant for Arizona Law. If so, when? : : Thankyou, : : Walter : ================== : Walter, : I think your deed form might have a section on it for listing your trust beneficiaries and probably an admonition to record a listing of your beneficiaries when their make-up changes. : A title officer at you title company could clear that up. : The assignment of the beneficial interest is a personal property matter and you don’t record documents dealing with personal property. : Sure the title holding trust would be compliant with AZ law, it’s just that having to record who your beneficiaries are, for the whole world to see, is a bummer. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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