Facebook Twitter Instagram
    Trending
    • Changing Your Financial Trajectory
    • Existing-Home Sales Surge 14.5% in February
    • Value of Owner-Occupied Real Estate Falls for First Time Since 2012
    • Federal Judge Halts Biden Administration Waters Rule in Texas & Idaho
    • Yardi Says Multifamily Flat in February
    • Housing Starts & Permits Jump Up in February
    • U.S. Cities with the Highest GDP
    • Housing Costs are the Leading Increase in Inflation
    Twitter
    Real Estate Investing Today
    • Home
    • RE Journal
    • ROI Magazine
    • National REIA
      • National REIA
      • Find a REIA near you!
    • Podcasts
    • Housing Data
    • Contact Us
    Real Estate Investing Today
    You are at:Home»Real Estate Blogger»Evictions and Trusts

    Evictions and Trusts

    0
    By Jeffery S. Watson on November 16, 2022 Real Estate Blogger

    Evictions and Trusts
    By Jeffrey S. Watson

    Not long ago, I did a short series on trusts being used by real estate investors. A memo came across my desk recently from a highly-respected eviction attorney in Cleveland, Ohio. The Cleveland Municipal Housing Court is now doing something that will probably spread to other states and cities. They are now requiring additional documentation when the owner of the property is a trust and the trustee is doing the eviction. Let me remind you of a couple of things.

    The trustee holds title to the property pursuant to the terms of a Trust Agreement. The Trust Agreement should be confidential, but it is good practice to always have an Affidavit or Memorandum of Trust recorded on public record at the same time the property is transferred into the trust via a Warranty Deed to Trustee. You need to be prepared to attach a copy of the recorded Affidavit or Memorandum of Trust (which should be no more than 2-3 pages long) and put it as an exhibit to your eviction documents to establish that the correct owner of the property (the trustee) is the one moving forward with the eviction. This will avoid having to show up in court with the entire Trust Agreement (which could be 10-50 pages long).

    There are extra burdens of documentation being placed on attorneys and landlords seeking to do evictions as a result of bad practices by real estate investors over the years and a major shift in policy by many of the large, urban housing courts.  These extra burdens include being able to prove the one filing the eviction is the current owner of the property. To do that, you need to have a copy of the deed and either the LLC Operating Agreement or statement of good standing from the Secretary of State if the owner is an LLC, or a copy of the recorded Affidavit or Memorandum of Trust if the owner is a trust.

    When you have to show up in housing court to do an eviction, it’s better to show up overprepared and over-documented, not needing half of what you bring, rather than be missing that one crucial piece of paper they want. One of the worst things you can do when it comes to an eviction is being in the right place at the right time with the wrong paperwork.

    Your comments and brief questions are appreciated. I read every one and will do my best to briefly respond. If you like this article, please feel free to share it on social media or otherwise and encourage your friends to go to WatsonInvested.com to sign up so they can receive my updates.

     

    Jeffery S. Watson is an attorney who has had an active trial and hearing practice for more than 25 years. As a contingent fee trial lawyer, he has a unique perspective on investing and wealth protection. He has tried over 20 civil jury trials and has handled thousands of contested hearings. Jeff has changed the law in Ohio four times via litigation.  His articles are also regularly featured the RE Journal.  Read more of his viewpoints at WatsonInvested.com.

     

    Share this:

    • Click to email a link to a friend (Opens in new window)
    • Click to print (Opens in new window)
    • Click to share on Twitter (Opens in new window)
    • Click to share on Facebook (Opens in new window)
    • Click to share on LinkedIn (Opens in new window)
    • Click to share on Pinterest (Opens in new window)
    • Click to share on Reddit (Opens in new window)

    Related

    Jeffery S. Watson
    • Website

    Jeffery S. Watson is an attorney who has had an active trial and hearing practice for more than 25 years. As a contingent fee trial lawyer, he has a unique perspective on investing and wealth protection. He has tried over 20 civil jury trials and has handled thousands of contested hearings. Jeff has changed the law in Ohio four times via litigation. Read more of his viewpoints at WatsonInvested.com. "If knowledge is the new currency, then Wisdom = Wealth." ©

    Related Posts

    Changing Your Financial Trajectory

    Existing-Home Sales Surge 14.5% in February

    Value of Owner-Occupied Real Estate Falls for First Time Since 2012

    Comments are closed.

    Emergency Rental Assistance
    Action Alert HR 5013 – Seller Finance
    https://youtu.be/WP-IAtGnPsQ

    Click here to visit the National REIA Legislative Action Center.

    Stay Informed!

    Simply enter your email address in the space below to receive our latest posts right in your mailbox! It's FREE!

    Join 2,528 other subscribers
    Podcasts
    podcasts
    Survey of the Quarter:
    • Most Recent Posts
    March 22, 2023

    Changing Your Financial Trajectory

    March 22, 2023

    Existing-Home Sales Surge 14.5% in February

    March 21, 2023

    Value of Owner-Occupied Real Estate Falls for First Time Since 2012

    March 21, 2023

    Federal Judge Halts Biden Administration Waters Rule in Texas & Idaho

    Benefits of Joining National REIA
    Click here to find a REIA!
    The Latest issue of the RE Journal
    REJ cover winter 22-23
    Follow us on Twitter: @REI2Day
    My Tweets
    Keyword Search
    Real Estate Investing Today
    National Real Estate Investors Association
    2755 Mansion Place
    Crestview Hills, KY 41017
    888-762-7342
    www.NationalREIA.org
    Top 100 Real Estate Investing Blogs & Websites on the Web
    Categories
    About Real Estate Investing Today

    Real Estate Investing Today is the news aggregation site for the National Real Estate Investors Association (NREIA) and features news & industry updates to help investors stay informed. Learn more at www.NationalREIA.org

    Media Inquiries

    Media Inquiries Click here

    Copyright 2022 Real Estate Investing Today

    • Home
    • News
    • Legislative
    • Market Trends
    • Residential
    • Data
    • Rentals
    • Crowdfunding
    • Legal
    • Regulations & Taxes
    • Infographics
    • Technology
    Copyright 2022 Real Estate Investing Today
    • Home
    • News
    • Legislative
    • Market Trends
    • Residential
    • Data
    • Rentals
    • Crowdfunding
    • Legal
    • Regulations & Taxes
    • Infographics
    • Technology

    Type above and press Enter to search. Press Esc to cancel.