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  1. #1
    Join Date
    Jan 2020
    Posts
    1

    Default Warranty Deed / Trustees and a Trust

    My question involves real estate located in the State of: Florida

    We are trying to close on a ssm ministry house to help couples in need. We tried to put the new home in our ministry. The title company refused to place the grantees name as the ssm ministry and suggest we do the purchase in a trust

    We worked on our trust documents which they accepted after we turned in our trust documents and all was fine until the closing. They wanted to add out name as the minister as the grantee. The entire purpose we wanted to put it in the ministry name in the first place was to hide our names due to what we do. We help people in need. For example a couples home burned to the ground. The ministry bought them a new home. We did not want anyone’s name associated with the purchase so people had no clue who actually was involved besides the ministry or trust. The main reason was we did not want people harassing the individuals and beg for money or a hand out.

    is there any law that states the grantees must be an individual or person or can we place it in a trust or ministry name with no names associated to it? We have our federal EIN established.

    blessings

  2. #2
    Join Date
    Sep 2010
    Posts
    19,421

    Default Re: Warranty Deed / Trustees and a Trust

    You need a lawyer. The real estate has to be owned by someone. You can certainly put it in individual's names, but that may interfere with what you intend to do with it. You can create a trust or perhaps a (non-profit) corporation as an alternative. You can't just invent a ministry name and use that as the owner.

    Of all the options, a trust may give you the best attempts to obscure the true ownership from land records, though someone will need to sign as trustee. Again, an attorney may be the best way to handle all this. If you're buying and selling a lot of properties, you probably want one working with you anyhow.

  3. #3
    Join Date
    Nov 2013
    Posts
    6,657

    Default Re: Warranty Deed / Trustees and a Trust

    Are you incorporated? Do you have a 501 (C)(3) exemption?

    If yes and yes, you should be able to buy property in the name of the 501(C)(3). And the title company should have nothing to say about it. Keep it simple. A trust just complicates it.

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