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July 3, 2011 by admin
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International Real Estate Portal, Ads, Projects, Business …
Moving – Living Trust – Retitling Assets?
Michigan:
I’m thinking about selling my home Lease to Own. I’m worried about insurance liability and tax consequences as well as my current mortgage company calling my loan “due on sale” because I’m no longer the owner occupant.
Can I keep this home as my perminent address when I move out of state? I’ll pay state tax in MI but TX has none. My wife co/owner would change her address to the new Texas location.
What about a living trust? Would this protect me from liability?
Will my current mortage company allow me to re-title the property to a living trust?
Thanks