Posted on: 04th Nov, 2009 06:15 am
I am financing a home for some friends that they currently own and need to refincance so they will have some cash. They will be renting the home out to others. Should we use Deed of Trust for Tx? Can I,the lender, be the trustee? Thanks!
Hello,
Yes, you can use deed of trust in taxes, but the trustee could be a the title company which gets the title of the property also contains lender, That means your lender will not be as trustee.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
Yes, you can use deed of trust in taxes, but the trustee could be a the title company which gets the title of the property also contains lender, That means your lender will not be as trustee.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
If I don't go through a title company, can I as the lender be the trustee?
a lender being the trustee sounds a little fishy to me...it might be legal but it seems a little bit too close for comfort.
