Would you like to learn more about this topic and talk to someone? Schedule a free consultation here: 👉 aba.link/dqx
@arthuraaron1803 жыл бұрын
Hi Clint, I have found your videos invaluable and have employed some of your RE strategies. I have come across one unexpected issue (more than once) as I strive to maintain anonymity and asset protection. When setting up a WY LLC (holding company to provide the anonymity discussed and charging order protection) which then in turn owns LLC’s formed in the state where the property is purchased the issue is when a lender records a mortgage. We lose the anonymity we have strived so hard to maintain. The mortgage docs require the owner of the LLC to sign the loan with their full legal name not the LLC name therefore revealing the name of the owner. While this might be difficult info to find for some it does become public record and if someone knows where to look it can easily disclose true ownership. When buying properties for cash without financing the above was not an issue. Once financing for a purchase or cash out refi comes into play the mortgage being recorded becomes an issue from an anonymity standpoint. Is there any way around this? Thx
@rcruz4013 жыл бұрын
You simply put it in a Landtrust first and then assign beneficial interest to the LLC.
@arthuraaron1803 жыл бұрын
Putting aside the additional cost of preparing and maintaining the trust the real issue is that many lenders will not lend to a land trust.
@rcruz4013 жыл бұрын
@@arthuraaron180 But if it's anonymity you want with a property incummbered by debt as a Mortgage, then the best strategy is to put into a Landtrust and then assign it in the state specific LLC and have it owned by a Wyoming Holding LLC. I'm sure you can still refi showing proof of full ownership with operators agreement.
@seeyouthere3 жыл бұрын
I would like to see what Clint's response would be. I wondered the same thing.
@mosesneri5060 Жыл бұрын
@@rcruz401 Dont quote me on this but adding to above comment. It is also recommended to file 1065 tax form page 2 instead of the schedule E, in correlation to cash out-refi
@freegee35038 ай бұрын
Great information but he left out the option of recording in a different county or different state.
@juliennedavis7341Ай бұрын
Or a different country!
@mwu00883 жыл бұрын
Great information! Thank you.
@ClintCoons3 жыл бұрын
Glad it was helpful!
@Mypromisethetruth2 жыл бұрын
You are a beassssssttttttt at providing simplicity and clarity been a subscriber for years Cooons!!!!
@ClintCoons2 жыл бұрын
Promisethetruth Channel Thanks for watching and being a subscriber.
@joshuagenes10 ай бұрын
Seems like getting a notary to record the pocket transfer might be good to avoid the fraud claim later when you make the legal county record/transfer after the lawsuit.
@ClintCoons10 ай бұрын
Remember the recording is not the transfer it is the signing of the deed. Yes a fraud claim might be made but if the deed was signed before the lawsuit and the LLC accepted the property you have a strong defense.
@redryder2107 ай бұрын
Gold!!
@terrycrawford67402 жыл бұрын
If someone has a Pocket Deed, can he (as the Grantee of the deed) reassign his/her interest to another party before the deed gets recorded? Will the first Grantee's name show up in the Chain Of Title?
@ClintCoons2 жыл бұрын
Sure but you seriously risk clouding title if the deeds are not recorded in the property order.
@LMays-cu2hp3 жыл бұрын
Thank you.
@LMays-cu2hp3 жыл бұрын
You advice has always been very nice. Again, thank you.
@EddyIdiaquez2 жыл бұрын
All those transfers and selling to entities sound good as long as you don't have a mortgage, the lender could find out and call the loan because of due on sale clause, is that correct?
@ClintCoons2 жыл бұрын
Freddie and Fannie permit transfers to LLCs after the loan closes. Their guidelines changed in 2018.
@AberrantArt3 жыл бұрын
Could this be used to avoid the due on sale clause if you buy a home with subject to financing?
@ClintCoons3 жыл бұрын
The bank would not know about the transfer.
@AberrantArt3 жыл бұрын
@@ClintCoons to clarify, in using this method they would not know? Or do you mean when using subject to financing the bank would not know and this is not necessary to avoid the due on sale clause?
@ClintCoons3 жыл бұрын
@@AberrantArt The bank would not know but since it is a transfer it could violate the due on sale. It really depends on who holds your loan. Have you watched my due on sale clause video?
@AberrantArt3 жыл бұрын
@@ClintCoons I have but I will re watch it again. Thank you for the amazing content. I'm new to your channel and have a lot to catch up on.
@husnankhan54992 жыл бұрын
Clint - Amazing videos + content; Question - I am buying a property that is in an LLC - can I simply buy the LLC (change ownership of the LLC that currently owns the LLC), rather than setting up my own LLC and doing a deed transfer?
@ClintCoons2 жыл бұрын
Risky because you do not know if the LLC has any outstanding IRS claims or other legal issues. If you do it make sure you have a rock solid indemnification from the seller and you are working with an attorney.
@terrycrawford67402 жыл бұрын
@@ClintCoons What is the alternative? Have the seller's LLC assign beneficial interest to buyer's new LLC? Thanks
@ClintCoons2 жыл бұрын
@@terrycrawford6740 Buy the property outright from the LLC so it is a clean title transfer on public record.
@brandonlesco48213 жыл бұрын
How are you going to sell asset protection services anymore, now that people know this is legitimate?
@joeybez54643 жыл бұрын
Getting a strategy meeting at 10:15 tomorrow
@ClintCoons3 жыл бұрын
Perfect
@laurie999318 күн бұрын
Clint Eastwood of attorneys! Thank you for clear advice
@ClintCoons18 күн бұрын
🤣
@waynecmontgomery3 жыл бұрын
Clint, you're an excellent attorney. Great advice !!!!!
@ClintCoons3 жыл бұрын
Glad you think so!
@donttasemebroseph3 жыл бұрын
As a privacy-minded investor that owns many rental properties and crypto you are rapidly becoming my favorite KZbinr. Thank you for putting so much info out for free
@ClintCoons3 жыл бұрын
Thanks
@JeffreyAllanBackowski Жыл бұрын
Can I have one of your properties? I can wave my assassin fees if there is someone, or some people you don't like... Just kidding lol... or am I?
@unitedworldpress18143 жыл бұрын
Lol fuzzy dice aka lower Rider Inc
@Jeremy-lu8ig10 ай бұрын
SHAME ON YOU OR ANYONE WHO DOES THIS IT CAN RUIN SOMEONES LIFE Leaving YOU WITH No INCOME LIKE BEING ON Social Security AND WITH Underlying health problems and it’s left me homeless now the last year THIS IS BEING EVASIVE AND GREEDY
@connorbielbyАй бұрын
For my situation I feel like it would be better to take the 10k debt and keep my property especially sense I’m disabled I have plenty of Rights as a homeowner and business owner
@twilighthan21403 жыл бұрын
563 Thumbs up from people that don't want to get sued. 1 Thumbs down from the person who already got sued for not setting these up properly to begin with.
@colleenscottcarmello5103Ай бұрын
* * * So what tax advantages does a person have with at property in a pocket deed yet needing to file taxes as though it is not been transferred?
@twunnac79913 жыл бұрын
The information you give is so well appreciated! Thanks for being so open and honest on how to do things. Where the rest of us can protect our assets too!
@ClintCoons3 жыл бұрын
I appreciate that!
@donwbacik10093 жыл бұрын
Ok? So who pays the taxes? It must have been recorded at some point... is there a contract in place to pay the taxes through the recorded owner? Looking for the anonymity??? Thanks again
@ClintCoons3 жыл бұрын
You wont have anonymity with this strategy and I would pay the taxes from the LLC. You should also update the tax records to reflect the LLC as the party who receives the tax statements.
@donwbacik10093 жыл бұрын
@@ClintCoons Isn't the person on record the one to be able to make the request of the tax bill go to someone other? Yes I'm thinking about the anonymity... I just went through having my asset protection trust take title and the bill sent to an LLC. Thx again
@ClintCoons3 жыл бұрын
@@donwbacik1009 You stay on title to the property. This is not an anonymity strategy. This is a strategy to move a property into an LLC without anyone knowing.
@donwbacik10093 жыл бұрын
@@ClintCoons it was quit Claim deeded over to the trust from me is what happened but in the example you're saying the LLC would make the rightful request to send the bill to the LLC or whomever is still on record, correct? My anonymity is in effect now?
@ClintCoons3 жыл бұрын
@@donwbacik1009 That works and it is how you should do it. This is a common mistake made by investors - they forget about the property tax statement.
@giyguyyy3 жыл бұрын
These videos are fantastic -- keep 'em coming!! Thanks!
@ClintCoons3 жыл бұрын
Thanks, will do!
@hithere36093 жыл бұрын
Thanks for sharing. This makes it easier for someone to know what to expect and saves time too! Yes, we gave you a thumbs up too! We like videos like this so we don't have to ask so many question. We can just what it again.
@ClintCoons3 жыл бұрын
Glad it was helpful!
@nahidsafavi29256 ай бұрын
Where are you located at please Are you in state of NJ by any chance?
@mygoogleno1but1883 күн бұрын
Thank you for making it simple to understand.
@ClintCoons15 сағат бұрын
You bet!
@lisajpsnowpeak43127 күн бұрын
Clint recording doesn’t cost 10k? How did you arrive at 10k?
@ClintCoons27 күн бұрын
I am referring to some states that charge fees or reassess the property.
@sheltontian49722 жыл бұрын
Saying that I deed my property to a LLC for the intent and purpose you described, and nothing happened to me. When it comes to sell the property, is there a way to avoid the recording and not to pay the transfer taxes since we didn't do it at the first place?
@ClintCoons2 жыл бұрын
You prepare another deed from the LLC - deeding it back to yourself.
@sheltontian49722 жыл бұрын
@@ClintCoons do you need to record this one and pay transfer taxes?
@rcruz4013 жыл бұрын
I've had you guys assist me with putting a property into a landtrust before assigning beneficial interest into my LLC. The question I have is, if that process gets recorded or is it what you call a pocket deed ? I also had you guys do the deed prep as well.
@ClintCoons3 жыл бұрын
The assignment is not recorded. You set it up the right way.
@alexgoumilevski58643 жыл бұрын
Clint, thank you so much for the incredible amount of great information!
@ClintCoons3 жыл бұрын
Glad it was helpful!
@racquelperez7656Ай бұрын
Yea well it can also get you killed.
@laurazessi18522 ай бұрын
So when that deed is not recorded, then how does the inheritor Prove mid ownership ? If the deed was never recorded and the house was been sold does that mean that the middleman is never recorded ever I’m finding a slew of foreclosures that appear to be bought at an auction, but then the original owners name is the person who supposedly purchased it. We all know that’s not true how do I find truly purchased it so I can find out who they sold it to an owners name reflect on a house before it was truly back from that sake of the house is purchasing December 2018 then why would it reflect being purchased in 2015 by the individual ??
@ClintCoons2 ай бұрын
The first person to record the deed is typically the owner. If you have an unrecorded deed, then I would suggest you record it to establish ownership.
@SportsActionNetwork3 жыл бұрын
Hi Clint, Can you use a pocket deed when you still have a mortgage on the property?
@ClintCoons3 жыл бұрын
yes
@WhyYouDoThisToMe Жыл бұрын
a Deed is a Lease, and the property must be Ceded to United States and be used by a Public Official conducting Official Government Pecuniary Business with that Pecuniary Business Interest. Real Estate is not tangible, unless you count the paperwork. To reiterate: Real Estate is a Pecuniary Business Interest in the Official Government Use of Ceded Foreign Land. A State Of State (28 USC 3002 15 c) political subdivision has no authority to cede land to United States, a proper cession can only be done by private people with no legal affiliation (no legal name or number). American Public Law is foreign to the Commercial and Legal system, and likewise Commerce and the Legal System are foreign to the union states served by the State Of State Inc subdivisions of United States and by United States Inc as well. United States has no sovereignty by law, they are a subcontractor exercising extremely limited delegated powers assigned by the sovereign people, all of which is funneled through Article 1 Section 8 of the Constitution of the United States. The main problem we are having presently is that the people are not enjoying the benefits of that service contract; Congress is not paying all debts which they owe by law, and the life and liberty and pursuit of happiness of the people are being trampled by insurrectionist attorneys and thieves and liars and their hired mercenaries (e.g. police; sheriff).
@WhyYouDoThisToMe Жыл бұрын
ona related "breach of public trust" topic: arresting people with a warrant counts as a Writ of Attainder and any judge or administrator signing one is engaging in Treason and Insurrection and is Warring against the Constitution. Persons are clearly defined as businesses, and everything in the U.S. Code and CFR and FAR must have parity with the legal system, so all of it is fictitious. One must be "acting as" and paid to so do in order to be liable, and most folks traveling and most folks minding their own house are simply not on the clock and not liable, so when police pull their car over or kick their door in that is an act of war and of treason as well. The law needs to be enforced against these criminals destroying the sovereign people. A citizen is something not clearly defined and must be piecemealed together as a public official with an oath and contract and bond whom is on duty performing the functions of public office, and when a citizen clocks out or leaves the federal area they are no longer a citizen by law.
@diamond6256 Жыл бұрын
Isn't this Property Tax fraud? Using the current owners benefits to pay those taxes. If someone bought in 2021, a home and does not change the deed to a Quit Claim Deed, do they get found out? I know of someone that is not changing the deed of the original owner is now deceased 12/2022, but he is not changing the deed to gain his benefits in property tax. I was going to report this fraud, but they cannot guaranteed me anonymous. I am afraid of him and don't want him to come after me.
@ClintCoons Жыл бұрын
Correct you must change the property tax statements with assessors office when transferring title via a land trust.
@fanefain93593 жыл бұрын
hold on time out i recoreded a deed an it was 17 bucks
@ClintCoons3 жыл бұрын
In some states like PA if you record a deed into an LLC or trust it will cost you 1000s of dollars in transfer taxes.
@inneralpha7 ай бұрын
Why are you hiding your name? So you don't get tracked down for exorbitant rents you place on apartment units?
@ClintCoons7 ай бұрын
You mean the rents that must be increased because ignorant politicians keep raising property taxes to fund their insatiable social spending in addition to preventing landlords from evicting non-paying tenants for upwards of 4-6 months. Hmm. Its unfortunate but the person who pays on time and is an upstanding tenant will pay the price for the other tenants who take advantage of the system.
@hermescloset817Ай бұрын
Is this the same with title, not just deed? As in, liens and notes against a deed. If not in the note/lien description, does it have to be recorded to have claim to a properties deed that may have transfered ownership already?
@ClintCoonsАй бұрын
Yes, liens must be recorded to be perfected.
@teresecox41093 жыл бұрын
My understanding is when changing to an LLC, for the purpose of asset protection, you must be sure to also change the homeowner’s insurance to the LLC name. A notice will be sent from the Insurance company to the Mortgage company Notifying them of the change. This may trigger the due on sale clause. Is this correct, and is this a concern? Thanks for your great content!
@ClintCoons3 жыл бұрын
Have you watched my video on insurance - kzbin.info/www/bejne/oH_Wg6pmn5uto9U You could always name the LLC as an additional insured. Also did you catch my recent video on the "due on sale clause" - kzbin.info/www/bejne/pmncq52hiLaid9E
@ChristopherOxfordАй бұрын
Great video!
@legofreak20202 жыл бұрын
so, say there are 3 brothers to ailing parents. Brother 1 convinces the parent to do a pocket deed giving brother 1 their home in order to keep brothers 2 & 3 from inheriting anything even though the parents have a will splitting their estate equally among the brothers. Brother 1 did this by convincing parents that this pocket deed is for the parents benefit to keep "people from taking advantage if them" in the event one of them dies. Parents trust Brother 1 and assume he is doing the right thing. Once they realize he has fooled them, they ask for the original and he refuses. Is there a way to nullify this?
@ClintCoons2 жыл бұрын
You would need an attorney to bring an action to assert undue influence and lack of capacity when the deed was signed. These type of cases suck.
@legofreak20202 жыл бұрын
@@ClintCoons Thanks! They consulted a lawyer this week. Yes, it sucks!
@JohnJanecek-z8x Жыл бұрын
My mom unknowingly inherited some land and the mineral rights.but never changed the deed into her name so we now can't locate the deed what can we do
@ClintCoons Жыл бұрын
You may need to reopen the probate to transfer the title.
@aleximalex71633 жыл бұрын
Clint, this is good stuff you tell us. Thank you. Please keep in posting. BIG fan of yours.
@ClintCoons3 жыл бұрын
Thanks, will do!
@nahidsafavi29256 ай бұрын
I own a rental property in palm beach gardens and it is under name. I created a LLC. Can I do Quit claim Deed ? Thank you
@ClintCoons6 ай бұрын
Do not use a QCD use a warranty deed.
@nahidsafavi29256 ай бұрын
I contacted the title company , and they told me I have to get a lawyer. I don’t have any mortgage on this property and bought it with cash . Do I actually need a lawyer Thank you
@terrycrawford67403 жыл бұрын
6:10 Prior to all this, (step 1) the husband and wife initially transfer title to the Land Trust. Then, (step 2) an Assignment of Beneficial Interest form gets filled out by the Trust beneficiary to transfer to the LLC. Is there a form needed accepting the transfer for either step 1 or step 2?
@ClintCoons3 жыл бұрын
Yes typically one is completed
@xerostrife37238 ай бұрын
Ok question my mama left my mother and i a will it has to my mom and me would get the property mom went without me I was 21 signed it just in her name took me completely off how is that possible when I was on there and I was of age I feel like I got screwed she died my dad now is listed and it has him as CO AL and my snake of a brother got my dad to move someone in with him then locked dad in a nursing home please help me out on this point me in the right direction
@ClintCoons8 ай бұрын
If you were on title to the property and your named was removed without your consent then you should contact a local attorney.
@xerostrife37238 ай бұрын
@@ClintCoons thank you I wanted to pursue it but I was scared it would just be a headache for nothing but I was never there that day that it was transferred I have paperwork of me being in a entirety different location so I can definitely prove my end I feel I was done wrong my mama done it Ike that so mom couldn't sell it then she ends up doing that to me now she's gone its been 14 years since the day of transfer but still I would think it would and could be reversed if proven wrong I think thank u for the kind and fast response new sub her ill be studying up on this stuff so u will help me alot
@alliesteamc35462 жыл бұрын
We appreciate Clint Coons for sharing valuable, useful and practical expertise! Many thanks!
@ClintCoons2 жыл бұрын
Glad it was helpful!
@AndriiIvanochko3 ай бұрын
How about simply using quick claim deeds?
@raultorres60543 жыл бұрын
Moral of the story, pay the 10k now instead of wishy washing hoping that you don’t miss a judgment against you. Pay now or pay later and pay dearly. I’m the Zen and you welcome.
@sviatayavoda2 жыл бұрын
In Illinois - I heard it from ALL attorneys I ever talked to - the date of transfer is the date of recording, for the purpose of "fraudulent transaction" determination. For example, my friend no longer owns a property (plus new owner didn't record the deed), and the new owner just recently called her saying "legally you still own this property, because I cannot remove the liens even if I show a notarized proof of transfer/deed from 5 years ago"
@ClintCoons2 жыл бұрын
Incorrect. I hat to say it but you should find better counsel. This is law 101. You can look at (765 ILCS 5/) Illinois Conveyances Act - here is a link: www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2137&ChapterID=62 Here is the important text: "Every deed in substance in the form described in this Section, when otherwise duly executed, shall be deemed and held a good and sufficient conveyance, release and quit claim to the grantee, his heirs and assigns, in fee of all the then existing legal or equitable rights of the grantor, in the premises therein described, but shall not extend to after acquired title unless words are added expressing such intention" You will note the act does not include any language regarding recording to make a transfer.
@jnca9112 жыл бұрын
I heard from Illinois attorneys if quit claim deed is not recorded the deed is not valid during appointment of estate guardianship
@sojourner8621 Жыл бұрын
Also, when you record the property deed, you are now allowing the County to tax your property & if you ever fail to pay said property taxes then the County can then take your property away from you. This is why you must acquire your allodial deed. Be aware States will claim such deeds do not exist, but they do. I've known of a number of people who have acquired their allodial deeds. Be aware municipalities will try to give you "Fee Simple" Deeds an/or deeds excluding your rights to minerals ("mineral rights"). Do not accept those types of deeds. Educate yourselves & consider a real estate attorney who knows.
@douglasperez63283 жыл бұрын
That’s a great video Clint, once you deed your property to LLC how do you get the loan out of your name is that even possible?
@ClintCoons3 жыл бұрын
Not possible.
@188jan7 ай бұрын
I had a LLC set up by the bank but I still pay for the property tax n association fee and what I’ve learn if you had a house under LLC you cannot reside in this place. It should be rental
@ahsinsmith39633 жыл бұрын
QUESTION. I’m in Chicago. I have my own personal residence but Can I put my 3 unit rental in a land trust make my sister the trustee? (She lives there )And make an LLC to make my LLC The beneficiary? the building isn’t making any income because it’s family living there and they break even on the total bill on that property. 🤔 maybe if i increase the rent $10 more a month?? Maybe? 🤔🤔
@ClintCoons3 жыл бұрын
Yes you can. This would be an Illinois land trust with an IL or WY LLC beneficiary.
@ahsinsmith39633 жыл бұрын
@@ClintCoons would I still qualify for tax benefits like depreciation and other tax write offs? Even though their is no profit on the rent income?
@ClintCoons3 жыл бұрын
@@ahsinsmith3963 Yes if the property is an investment property. The depreciation will result in a loss on your Schedule E.
@Joshuatree77463 жыл бұрын
This is how you try to hide profits from Uncle Sam. I knew it was a tax evasion gimmick.
@ClintCoons3 жыл бұрын
How did you pull that concept out of this video?
@alexdavidson77853 жыл бұрын
@@ClintCoons dont worrie bout MAT is a joke
@terrycrawford67403 жыл бұрын
Does California charge a transfer tax?
@ClintCoons3 жыл бұрын
Not if it falls within an exemption.
@terrycrawford67403 жыл бұрын
And a transfer into a (Land) Trust is one that does, correct?
@joshpinchuk70613 жыл бұрын
What's your main channel? I thought this was it.
@ClintCoons3 жыл бұрын
Real Estate Asset Protection
@gamelkamalielu91543 жыл бұрын
Wow this was great!!! Thanks for video 🗝️
@ClintCoons3 жыл бұрын
No problem 😊
@anneiconex14733 жыл бұрын
It costs $10,000 to deed my house into my LLC? ??????????
@Mhapple5 ай бұрын
so the date on the pocket deed affirmed by the notary is enough to show that there is has been a new owner from that date
@LAKitchen3 жыл бұрын
YOU GIVE THE BEST ADVICE! Thank you
@ClintCoons3 жыл бұрын
Happy to help!
@fathan163 жыл бұрын
You must be a doctor as your second job.
@ClintCoons3 жыл бұрын
Hah!😂
@affordablevoices Жыл бұрын
Clint, just saw this presentation. It was a piece broken off of the first one that I commented on. Going to look into a few more. Thanks again for the info.
@mistermg7458 Жыл бұрын
Mannnn, Fuzzy Dice LMAO! Great Video appreciate this.
@ClintCoons Жыл бұрын
Mister MG Thanks for watching.
@howiewynn82483 жыл бұрын
Wow... great to know sir. Thank you
@ClintCoons3 жыл бұрын
Most welcome
@KangyXiong6 ай бұрын
I have a few questions for you to answer from your experience and expertise for the following: 1. If you own a paid off property, but you didn’t pay your taxes for 1-2years, and transferred the property deed title to someone you knew or close to you. He/she took care of the property taxes and whatever the interest and fees the city and county fines when the new owner sell the property, can you still get some money back? 2. As soon as the property deed title was transferred, does the grantee has his/her rights to put this property for a refinance right away? 3. Because this property was paid off and there was no balance owed at the bank or anywhere with anyone except the city and county taxes with the interest and fees. If you don’t get anything back from it, can you sue the grantee in court with the money from selling the property? I would appreciate if you could give me some advice or knowledge. Thank you!
@ClintCoons6 ай бұрын
You can set something up like you describe by recording a lien against the property for your interest.
@organizer145 ай бұрын
Are transfers of llc interest in the public record in Washington DC? Or how to find out if ownership interests of a LLC is in the public record?
@ClintCoons5 ай бұрын
It is not.
@JeffreyAllanBackowski Жыл бұрын
There is no such saying "The horse has already left the farm" WTF is that supposed to mean?
@JeffreyAllanBackowski Жыл бұрын
@miztuhx Still doesn't makes sense, I've heard the saying "Horse has left the stables".
@LUIXGUI7239 ай бұрын
Hi Clint, I was watching one of your videos where you talked about the 'Due on Sale' clause. Would this trigger it? I am thinking no since it is not reorded. This is for a loan not with Fannie or Freddie.
@ClintCoons9 ай бұрын
No it will not
@dman100000002 жыл бұрын
Clint, big fan!!!... have an existing rental that I want to put into a new LLC to get out my personal name and out public records...I can easily do that in the court house records, but my address will still be the same on public records unless I buy a new post office box or something...any ideas on that?... thanks in advance...
@ClintCoons2 жыл бұрын
Yes that is correct. When we set up these structures for out clients we provide an address and mail forwarding to protect their anonymity.
@rinihaque29462 жыл бұрын
can u pls give me a example how how a revocable living trust deed should look like example trustor name A and trustee B? with legal descriptions xyz
@ClintCoons2 жыл бұрын
You would be the grantor and the trust is the grantee e.g., John Doe Trustee of the Doe Living Trust Dated March 1, 2010. Your living trust will state how you take title under your trust.
@Mblue19883 жыл бұрын
Thank you!!!! Gold.
@ClintCoons3 жыл бұрын
You're welcome! Thanks for watching Mr. Blue. :)
@duanejahn23682 жыл бұрын
Why not open a revocable living trust in the beneficiary name? Deed goes to the Trust/beneficiary/trustee, thus avoiding probate and additional fees?
@ClintCoons2 жыл бұрын
You would need the living trust to avoid probate. Yes I agree the living trust is an excellent tool
@JtotheRizzo8 ай бұрын
Had no idea this was the case! Wow! Learning a crazy amount from an asset protection standpoint. Wish I found Clint about 5 years ago and before I setup my most recent entity formation
@ClintCoons7 ай бұрын
If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession
@crystalwhite31799 ай бұрын
Very good information. Some of these things I've never heard before. Thank you.
@ClintCoons9 ай бұрын
Glad it was helpful!
@loriann266 Жыл бұрын
What happens when a surveyor fails to do a deed search before the sale of a property and includes a portion of land that you hold the deed to in the buyers title. Now buyer is suing for ownership of the land that you still have the deed to because the surveyor put the discription on the buyers title. The buyer never recorded a deed for the portion of land that i have the deed to and the owner i got the deed from says the disputed land was never supposed be placed on the buyers title. Because the surveyor assumed that the deed holder included the disputed land in the sale without ever doing a deed search does that stand as legal? Does the deed holder have precedence over the title holder
@ClintCoons Жыл бұрын
I would assume the deed holder only receives what is on the deed. If there was a mistake then the title company is responsible to the buyer to make up the difference.
@fanefain93593 жыл бұрын
take action an do what
@Jusbee3572 жыл бұрын
love you brother☝🏽
@valerieleuba Жыл бұрын
How do I make sure the property has been recorded? How do I check it?
@ClintCoons Жыл бұрын
County recorder.
@judithtalili32062 жыл бұрын
awesome.thanks
@SCinMI3 жыл бұрын
Do you offer SpendThrift irrevocable trust?
@ClintCoons3 жыл бұрын
We do not.
@brandonwells1307 Жыл бұрын
Could this be used to protect against foreclosure ?
@ClintCoons Жыл бұрын
How so? If it is against the property the answer is no.
@bethel21433 жыл бұрын
Great info Clint!!!
@ClintCoons3 жыл бұрын
Glad it was helpful!
@rinihaque29462 жыл бұрын
does this work if someone has properties in LLC and created a living trust and do not record it because he or she wants asset protection under LLC?
@ClintCoons2 жыл бұрын
What did you not record?
@JustinCase-f6x Жыл бұрын
Can you explain the tax ramifications. Clearly the LLC would have to pay taxes on rental income. Wouldn't the IRS know who the owner of the LLC is?
@ClintCoons Жыл бұрын
Yes when the income hits your tax return. The LLC does not pay tax but if flows thru to the members.
@JustinCase-f6x Жыл бұрын
Can evil doers then identify the actual owners through the tax return? @@ClintCoons
@gmx5051 Жыл бұрын
can this strategy be used for a living trust?
@ClintCoons Жыл бұрын
No because of the nature of a living trust.
@brainiacvp Жыл бұрын
This won’t trigger the due on sale clause on the mortgage? When it gets recorded ?
@ClintCoons Жыл бұрын
It would depend on your mortgage but most are underwritten by Freddie/Fannie guidelines and transfers to LLC or trusts are permitted.
@brainiacvp Жыл бұрын
@@ClintCoons what’s the best way or where can I find a pocket dead contract so I can draft one up ?
@brainiacvp Жыл бұрын
@@ClintCoonsso to write one up, is it the same as a quitclaim deed?
@ClintCoons Жыл бұрын
@@brainiacvp I prefer to use a warranty deed
@ionsochirca92443 жыл бұрын
Clint, after my LLC records the deed, do I have to immediately look for a tenant to live in the house or at least move-out. The creditor's argument could be that this property is for your personal residency and not business-related.
@ClintCoons3 жыл бұрын
If the property is not a rental then the LLC lacks a business purpose and the creditor can move the court to ignore the entity form. I would not place my personal residence in an LLC because it could weaken my other LLCs that hold my rentals with the argument being I set up LLCs for asset protection and they lack any business purpose.
@SummerJeronimo-MLM Жыл бұрын
Great info! Thanks!
@ClintCoons Жыл бұрын
You bet!
@traderj55953 жыл бұрын
Are you running the risk of the property being incumbered by a judgement by the person on title if is not transferred
@ClintCoons3 жыл бұрын
Yes you do but in some states like PA you either pay $$$ or run the risk. Great point.
@brandi92y2 ай бұрын
Thanks for info!
@ClintCoons2 ай бұрын
You bet!
@newtonb14263 жыл бұрын
What do you do if you want to sell it, if you haven’t recorded the property?
@ClintCoons3 жыл бұрын
Deed it back to yourself and sell it in your own name. The deed back to yourself will not be recorded because you would be listed as the current owner but you must prepare the second deed to prove intent.
@Cclezzgo Жыл бұрын
Is a pocket deed the same as a quitclaim deed?
@ClintCoons Жыл бұрын
It could be. A pocket deed is an unrecorded deed.
@DMarogani Жыл бұрын
❤
@gb85182 жыл бұрын
I can't stop watching all your videos It's so helpful for me. Thank you
@ClintCoons2 жыл бұрын
Thanks for watching.
@denzelsmokee7576 Жыл бұрын
🔥🔥
@stevenroshni12283 жыл бұрын
Don't you still have to give corporate notice? (i.e. tell the current and potential tenants).
@ClintCoons3 жыл бұрын
You would want your tenants paying the LLC.
@hytf88493 жыл бұрын
Is there capital gains or transfer tax when deeding a property you own to your single member llc?