LandTrust.net is a real estate agency located in West Hills, California
Title
North American Realty Services, Inc
Description
Via a unique documentation system that utilizes the (Illinois-type) title-holding land trust model, North American Realty Services (NARS) is able to provide the professional real estate community a truly exceptional and safe vehicle for acquiring, selling and dealing with single-family Real Estate (1 to 4 units)...without standard down-payment requirements, without a new loan, without credit applications and/or credit history issues. Owner-Carry financing can at last be accomplished safely and conveniently without undue lender compromise relative to contractual transfer and alienation admonitions (i.e., in regard to the "Due-on-Sale Clause": see Garn-St. Germain 1982, FDIRA, 12USC 1701-j-3).*
Understand that violating a lender's due-on-sale clause is never against the law (i.e., DOSC = A lender's warning that the property can be foreclosed upon and the loan called should it be sold or transferred without authorization). A violation of the DOSC merely compromises the lenders wishes and can result in termination of the mortgage and foreclosure on their security at the lender's discretion. In the event of such action, it would be sanctioned and fully supported by law (FDIRA 1982/12USC1701-j-3) except under certain circumstances, one being the placement of the property into an inter-vivos trust (such as in the land trust). An analogy: It's not against the law to talk during a movie: but with proper advance warning the theater owner is supported by law should he chose to eject you for doing so. In this regard is is important to clearly understand that placement of a mortgaged property into a land trust and leasing it out to an unrelated co-beneficiary is authorized (indirectly by non-prohibition) by law [the Garn-St. Germain Law]: FDIRA 1982/12USC1701-j-3.
The Equity Holding Trust(tm) is comprised of two forms -- 1) the PACTrust(tm), typically involving only two parties a Settlor Beneficiary and a Resident Beneficiary (i.e., "seller" and "buyer"), and 2) the NEHTrust(tm), involving three beneficiaries: Settlor (seller), Investor (buyer), and Resident (co-buyer).
Languages
English
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- Alexa: LandTrust.net
