How Would The Purchase of Property, Home or Car Work With Trust

How Would The Purchase of Property, Home or Car Work With Trust

The trust can outright purchase the asset with cash/credit or it can seek financing - this requires building corporate credit. In most scenarios, someone will personally apply for a loan and then transfer the asset into the trust via a Quitclaim Deed (home), Bill of Sale (car) or Private Security Agreement (various others) and continue making payments to the property in the name of the trust instead of personally. NOTE: If unfamiliar with the sale, transfer or recording process of an asset, please call the local Clerk of Court for more information.

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