[CF Student]

CF Student

Hi Jackie and Community,

If I need to sign a note using a property held in a land trust as collateral. And I am the beneficiary, how should I sign it so that it is non-recourse?

Would something like this work?
John Doe for Trust No. 123, not individually

Thanks

[Jackie Lange]

Jackie Lange

you need to read your trust agreement. It probably says only the trustee could sign that kind of agreement and only under the directly of the beneficiary.

Ideally, the beneficial interest person is never revealed, so you, or your company, as beneficiary would not, should not be the person signing anything. It should be the trustee

[DON WEDE]

DON WEDE

Also put some language in the note similar to this.

6. The security interest represented by this mortgage shall be the
sole security for the obligation secured and the undersigned shall in no
way be personally obligated.

Don Wede

[CF Student]

CF Student

Thank You!

[Arcinio Arauz]

Arcinio Arauz

Ditto on what Don said. Spell it out.