Deed of Trust

Archive for August, 2008

Question: texas law - If a Trust is created, do you have to put the property in the trust?

If a trust is created for a family, and one individual owns a house, does that house automatically fall under the trust or do you have to deed the house to the trust?

Answer: You have to deed the trust to the house. You may need to get permission from the mortgagee bank AND make sure that your TITLE INSURANCE policy still covers you: you probably need to get their written consent also, and perhaps pay them something.

Also: check on what effect the trust has on your HOMESTEAD RIGHTS in Texas, and on your property taxes.

Normally when a Trust Deed is written, if it's not to be funded right away a small amount of money -- $1 will do -- is paid in.

Bide the Wiccan Law Ye Must

Can Baracky Boy save this Las Vegas foreclosure? Maybe AB 149 can? Doubtfully.