Many short sale buyers are successful in using a land trust as the buyer. They will show the trust if the bank will not accept a certification of trust. California has a special probate form to certify a trust. Other states accept a certification that states the trust is current, valid, that the trustee has powers and no other changes have been made. It is better to make the deal by showing the trust, than not having a deal. The beneficiary can be changed after the purchase to a rehabber, investor, or end-user. The benefits of this are privacy and possible avoidance of seasoning requirements.
Short Sales And Trusts
