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  1. #1
    Join Date
    Feb 2019
    Posts
    11

    Default How to Incorporate Debtors Mortgage Lien into Family Trust for Benefit of Trustee

    My question involves estate proceedings in the state of Oklahoma

    There are debtors who owe me money and I have promissory notes and mortgage lien against their property. How do I make it part of my asset in my family trust so my trustee can collect it after my death? I like to know how to word it in the trust.

    Thanks in advance
    SM150

  2. #2
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: How to Incorporate Debtors Mortgage Lien into Family Trust for Benefit of Trustee

    My guess is that you assign the debt to your trust like mortgage companies assign mortgages to each other and you would have to record those new documents just like they do. You might also have to have future payments made to your trust instead of you personally since the trust would then own the mortgages. Presumably your trust has its own checking account so it can disburse funds from the trust to you whenever you want them.

    The exact method is beyond me.

    I suggest you get with the lawyer who created your trust documents and have him set it up properly for you.

  3. #3
    Join Date
    Feb 2019
    Posts
    11

    Default Re: How to Incorporate Debtors Mortgage Lien into Family Trust for Benefit of Trustee

    Thank you

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