OfflineI just went on contract to buy a property so that I could assign the contract over to an endbuyer or buy and sell in a simultaneous closing.
When I went to record the contract in The Bronx, NYC the way it was being explained to me was different then how I seen it done on youtube or read in the books. They said i had to fill out a tax form and I was like I don't own the property I just have it under contract.
I never heard about no tax form in any of the books or course i read. I figure that they did'nt know what they were doing and figure that I go to another borough to see if they tell me the same thing. Only this time they mention that they want to see the Trust Document and wanted to know if I file for a tax registration id number. Without that I can't record the the Memoradum Of Agreement. Now I have to question what is the precussion at closing when I already sign under the Trust that has no entity. Also I already have a endbuyer who looks really interested.
Will like to hear your opinion about such.
Percussion on signing under a entity that has no tax number
Posted on: Wed, 01/19/2011 - 01:12
Percussion on signing under a entity that has no tax number
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- by jaydaboxer
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I am not sure so can't answer your question. But I have put 2 houses under contracts to assign, and one was with an agent. Never heard of this problem. But I am in Wisconsin.
So I am interested in finding out what you get for answers. Hope someone comes on to this post that knows what this is about.
Good question!
Sandi
I too am interested in trusts and how this differs from an llc. I am posting to keep this current hoping others will join in with some help.
Steve
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