Land Trust Questions (Texas)

[TexasProperties]

Texas
I Have a chance to get involved with a Land Trust.I was wandering how risky it is for the seller. Who should be the trustee and the angle of the benificiary. Is it good for the seller to get into one that is short and brief rather than 3yrs.or more. I have an offer to give me more on my home,but I have to wait to get entire payment.I feel that I am not getting the best deal with this contract How can I negotiate it better for me and what are some rules to follow by.
Are there any good Land trust Lawyers?
Thank you!

 

[efflandt]

I am not real clear what you are attempting to do. But before you sign the deed over to anyone, make sure that any loans you have on the property are satisfied, or done with the cooperation of your lender. Most loans secured by property become immediately due and payable if you transfer property used as collateral for the loan.

It would certainly be a good idea to have a local attorney review it before signing anything.

 

[HomeGuru]

Texas
I Have a chance to get involved with a Land Trust.I was wandering how risky it is for the seller. Who should be the trustee and the angle of the benificiary. Is it good for the seller to get into one that is short and brief rather than 3yrs.or more. I have an offer to give me more on my home,but I have to wait to get entire payment.I feel that I am not getting the best deal with this contract How can I negotiate it better for me and what are some rules to follow by.
Are there any good Land trust Lawyers?
Thank you!

**A: yes there are.