Renting to a Family Trust
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Renting to a Family Trust (by Jan [NV]) Jan 10, 2009 6:53 PM
       Renting to a Family Trust (by Irish [MD]) Jan 10, 2009 7:00 PM
       Renting to a Family Trust (by MrRational [MD]) Jan 10, 2009 7:02 PM
       Renting to a Family Trust (by AllyM [NJ]) Jan 10, 2009 7:02 PM
       Renting to a Family Trust (by T.T. [MA]) Jan 10, 2009 7:39 PM
       Renting to a Family Trust (by John [OR]) Jan 10, 2009 8:13 PM


Renting to a Family Trust (by Jan [NV]) Posted on: Jan 10, 2009 6:53 PM
Message:

State Specific Question About: NEVADA (NV)

Has any one been asked to make the lease out to a Family Trust? It seems this is some sort of scam. --71.138.xxx.xx




Renting to a Family Trust (by Irish [MD]) Posted on: Jan 10, 2009 7:00 PM
Message:

I've rented to a college student with a collectible parent co-signor, with the rent being paid from a family trust once...perhaps you can work a deal like this rather than to lease to a family trust? --68.236.xxx.xxx




Renting to a Family Trust (by MrRational [MD]) Posted on: Jan 10, 2009 7:02 PM
Message:

I really don't care who writes the rent check but whoever is given possession of the property MUST be on the lease and MUST have passed the qualifying credit check, income verification, etc... AND be collectable.

So... who is going to live there?

--96.234.xxx.xx




Renting to a Family Trust (by AllyM [NJ]) Posted on: Jan 10, 2009 7:02 PM
Message:

My Dad set up a trust. It's like a corporation in a way. It's an entity all by itself like a corporation. It had a federal tax ID number.

Would you rent to a corporation? It's basically no different. There is a Trustee whose name will appear on all paperwork and that is the person you will receive the rent checks from as that person will sign off on all check and other documents.

If you needed to evict, this is the person who would show up in court. Ask who and where the Trustee is.

You may want to see if you can get a credit report for the trust just like you would a person. You need to make sure the trust is solvent, that it has money to pay the rent and how it gets it's money. --76.99.xxx.xx




Renting to a Family Trust (by T.T. [MA]) Posted on: Jan 10, 2009 7:39 PM
Message:

I would use the trust (or one of its trustees) as a co-signer for the person/people who are going to be living in the apartment--they would be the ones listed on the rental contract. --72.93.xxx.xx




Renting to a Family Trust (by John [OR]) Posted on: Jan 10, 2009 8:13 PM
Message:

Have leases with two trust funds at the moment, Plenty of money in those accounts and the rent is paid on time. I've bought and sold property from trusts as well. No big deal. --76.115.x.xx





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