<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto"><div></div><div>Thanks! I'll look again at the Act!</div><div><br>On Jun 2, 2016, at 2:52 PM, Paul Grant <<a href="mailto:paulnnepa@gmail.com">paulnnepa@gmail.com</a>> wrote:<br><br></div><blockquote type="cite"><div><div dir="ltr">Well, believe it or not, I was just poking around the St. Germain Act this morning.... why? Because attorneys are just that weird.<div><br></div><div>Look at US Code 1703j-3(d)(8) - <span style="color:rgb(51,51,51);font-family:Verdana,'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:13.3333px;line-height:20px">a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property</span></div><div><span style="color:rgb(51,51,51);font-family:Verdana,'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:13.3333px;line-height:20px"><br></span></div><div><span style="color:rgb(51,51,51);font-family:Verdana,'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:13.3333px;line-height:20px">If your client is "the borrower" but is not a beneficiary the transfer may have offended the statute and the loan could trigger the due-on-sale clause. If you could convince the mortgagee to close the loan that may also force a remortgage.</span></div><div><span style="color:rgb(51,51,51);font-family:Verdana,'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:13.3333px;line-height:20px"><br></span></div><div><span style="color:rgb(51,51,51);font-family:Verdana,'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:13.3333px;line-height:20px">Obviously a long shot but look at the section to see if anything else fits your situation. Even the threat of asking the mortgagee to force a payment in full may get the Trustee to respond, specifically if it comes from your office.</span></div></div><div class="gmail_extra"><br clear="all"><div><div class="gmail_signature" data-smartmail="gmail_signature"><br>Paul H. Grant - JD, LL.M<br><br>Planning with Purpose, Inc<br>Lynnwood, WA 98036<br>425-939-9948<br><a href="http://www.planningwithpurposeinc.com" target="_blank">www.planningwithpurposeinc.com</a><br><br>Estate Planning. Business Planning. Wealth Succession.<br><div style="display:inline"></div><div style="display:inline"></div><div style="display:inline"></div></div></div>
<br><div class="gmail_quote">On Thu, Jun 2, 2016 at 2:10 PM, Adria Vondra <span dir="ltr"><<a href="mailto:avondra75@gmail.com" target="_blank">avondra75@gmail.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="ltr"><font face="Verdana">I have a PC who took out a mortgage loan for his aunt several years ago.
Right before she died (5 years ago), he transferred title to her family trust at her
request. His uncle is trustee and PC is not a beneficiary. He never lived in
the house and never has made any payments on the home nor did he make the down
payment. The trust makes all the payments. His uncle is not cooperative at
all. So, basically, he is on the loan and not the title. He wants to get off
the loan so that he can qualify for his own home. Does he have any legal
recourse? I don't know if he can force a sale since he is not on title. The
trustee will not cooperate to refinance and the client is concerned about his
credit and has literally no communication with them since his aunt died. Any ideas?</font><span class="HOEnZb"><font color="#888888"><br clear="all"><br>-- <br><div data-smartmail="gmail_signature"><div dir="ltr"><div><div dir="ltr"><div><div dir="ltr"><div>Adria Vondra<br>Attorney at Law<br>Vondra Law Firm, PLLC</div><div>15600 Redmond Way, Ste 201</div><div>Redmond, WA 98052</div><div><a href="mailto:avondra@vondralawfirm.com" target="_blank">avondra@vondralawfirm.com</a></div><div><br></div></div></div></div></div></div></div>
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