Buying a house in CA. under my Living Trust's Name for privacy reasons, "NFTrust" as an example. but my escrow officer says that my
name as Trustee must procede the name of the Trust for taking Title. I was wondering if I appt'd an LLC company to be Trustee, and take title like this "XYZ , LLC Trustee of the NFTrust", would that work and what are the legal ramifications of having a company be the Trustee on Title? I note that I would have controlling 95% interest as owner/member status of the XYZ, LLC.
Answers (1)
FIRST ANSWER
Hi Dana22,
You need to speak with a CPA and Lawyer!
Don't mess around with getting advice of this nature on Trulia. Making a wrong move can cost you ten of thousands of dollars due to legal/tax exposure.
Best, Steve
Web Reference: http://www.Steven-Anthony.com
Didn’t find what you were looking for? Ask a question!
More Q&A about Home Buying in Central Valley
View all »
Answered Thu Jul 9 2009, 13:44 by Tony Grech in Central Valley
Answered Wed Jul 8 2009, 12:45 by Keith Sorem in Central Valley
Answered Tue Jul 7 2009, 15:14 by jimw in Central Valley
Answered Wed Apr 1 2009, 09:46 by Kerry Scott, Broke… in Central Valley
Ask a question
Got a real estate question? Get answers from locals, experts and real estate pros.
Email me when…
|
|
|
|
|||||||||||
|
|
|
|
|
|
Copyright © 2009
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
Help us improve our service—send us feedback