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I have a coworker we all love. He's always talked about the areas of the country he's lived and the rental property he has. I never thought much about it. He seems trustworthy.
A mutual friend commented someone looked up his property and couldn't find that he even owned it. He's got a great place near the beach. I've been there. He says he bought it outright from someone who was about to go into foreclosure.
I looked it up today. First I looked up taxes and found vehicle tax records for him. Then I looked up his address and it had someone else's name with -Trustee beside the name. So.... I wonder if he has his property in a trust.
This guys in his early 60's. He's got a job offer back in CA. He lost his wife here in New England and his family is all back there. (good for him for moving back there)
The trustee is probably the name of a person at the lender. When someone finances a property, the lender is always listed as the trustee.
He's always said he paid cash for the property. He also says he owns a house on Huntington Beach. He's from out there and all the pictures he shows, everything adds up.
He has a rental with his brother, 6 units that they keep one vacant for any of the kids that might need it.
He is moving back to CA and just bought a 4-plex, all rented, one vacant for him to live in.
I don't doubt there's money. I don't really doubt anything he says.
My property is in my name and the tax records say so, even though it's not paid for.
The trustee is probably the name of a person at the lender. When someone finances a property, the lender is always listed as the trustee.
Are you saying everyone with a mortgage is not listed as the owner in public tax records, but it's a name of some person from their mortgage lender listed as a trustee?
That's certainly not the case in my area. In fact, I've never seen that in Michigan. I'm not sure in what states your statement might apply.
Maybe that is a Texas-specific thing.
I've never seen it, either, and I've done paperwork for closings in 48 states plus DC. Texas and New York are the only states I don't have experience with. Granted, I'm sure there are several states I've never had a trust in since coming across closings in certain states are rare on their own...
I have a coworker we all love. He's always talked about the areas of the country he's lived and the rental property he has. I never thought much about it. He seems trustworthy.
A mutual friend commented someone looked up his property and couldn't find that he even owned it. He's got a great place near the beach. I've been there. He says he bought it outright from someone who was about to go into foreclosure.
I looked it up today. First I looked up taxes and found vehicle tax records for him. Then I looked up his address and it had someone else's name with -Trustee beside the name. So.... I wonder if he has his property in a trust.
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His property is in a trust if it says trustee beside the name. A trustee is basically the administrator of the estate. Here is a link to read about what it means to have trustee after a name.. https://www.trulia.com/voices/Home_B...se_is_l-223802
The dude could be telling you the truth, but like what cargoman said "why does it matter?"
You SAY you all love him and it seems he is trustworthy, but yet you're checking up on his stories. So which is it?
I don't see what the big deal is unless somebody is going to lose money with the guy or somebody wants to marry him. He might just be someone who fibs to make himself look like he is interesting...or he could put the property in someone else's name and he is legitimate....or he could be a psycho who wants to lure unsuspecting co workers(who love him) to an empty 4 plex in California that he doesn't own so that he can have a slasher filled weekend. (If you're getting that kind of vibe from him...then you should probably do more than snoop on property tax records about the guy..lol)
I was just looking for a legitimate possibility to throw back at the people who don't like him. He was a shop supervisor and expected his people to actually work :O. So many of them don't like him.
He's part of the team I'm on now and we all love him. Management loves him.
When they say "he's full of ...t because we looked it up and..." I'd like to be able to say "His property is in a trust..."
There's too much casual detail that raises no red flags all together. I have a really good bs meter, at least over a period of time.
He's given me 3 references for jobs I've gotten. He's good people. I'm not going to think any more about it. Those lazy air-breathers can just shut up.
He married when they were both 17 and he just lost his beloved wife a couple of years ago - 3 in Sept, I think. (43yrs) He's got some heart problems and having his property in a trust would make sense, I guess. There are a lot of people, kids, grandkids, siblings, nieces/nephews who mean the world to him.
Again, I just wanted to have something to say back to the haters. There aren't many but they're loud and obnoxious.
Thanks for all the responses!!
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(If you're getting that kind of vibe from him...then you should probably do more than snoop on property tax records about the guy..lol
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