Trusts/Wills

Maintain 100% Control Over Your Assets.

There is no increase in real property taxes to the extent you transfer your real property into trust. With regard to your home, the Supreme Court has ruled that the Due on Sale clause is inapplicable when a homeowner transfers title to his or her home into his or her RLT. This makes sense since there is no real "change of ownership" such as when you sell your home. The purpose behind the Garn St. Germain Act was to allow lenders to accelerate the mortgage when you sold your home, thereby "changing owners." Additionally, lenders traditionally have not called the loans due and payable when rentals are transferred into an RLT. However, in the case of rental property, our law office generally seeks the lender’s consent, to insure that the loan will not be called due. The reason for this additional precaution with rental property is that there is no Supreme Court decision on point, which specifically forbids lenders from accelerating the loan. Traditionally, the lenders agree to the transfer and charge a service fee of anywhere from $100 to $125 for the documentation.

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