WHAT ARE THE ADVANTAGES OF TITLE TRUSTS?
Title trusts, also called property trusts, escrow trusts or holding agreements, are trusts used to hold title to real estate. With such trusts, individual owners’ names are not a matter of public record, unless state or local law requires such disclosure. Typical trustees include banks, savings and loan associations, and title companies. Title trusts offer owners increased privacy regarding their real estate holdings and property transfers for a relatively low cost. Many people use them to avoid probate costs is estate planning or to avoid triggering a due on sale clause in some mortgages. Consult a real estate attorney or tax advisor for further information on title trusts. A real estate agent who is a REALTOR, a member of the NATIONAL ASSOCIATION OR REALTORS, can aid you is selecting qualified professionals.
