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Can a corporation be a beneficiary of a Deed of Trust on an…

Can a corporation be...

Can a corporation be a beneficiary of a Deed of Trust on an Arizona private money loan

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

Arizona

Lawyer's Assistant: What documents or supporting evidence do you have?

We are making a real estate loan on a property in Arizona. The beneficiary of the Note and Deed of Trust is a corporation. Can that be done. We were told by someone it had to be in our personal name

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Answered in 2 hours by:
5/3/2018
Legal Eagle
Legal Eagle, Lawyer
Category: Real Estate Law
Satisfied Customers: 14,373
Experience: Licensed to practice before state and federal court
Verified

Hello! I am a licensed attorney, admitted to practice in state and federal court. I have a nearly 100% satisfaction rating (click here for more info) so all that means is that you can count on me to help today. The answer to your question is yes, a company can be the trustee on the deed of trust. ARS § 33-803 lays out requirements for the trustee; however, there aren't any requirements for the beneficiary. Oftentimes, companies do hold property as a part of their assets since they are legal persons in the state of Arizona

Because I value your input, I would like to know whether you have any other questions for me today that I could help you with?

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Customer reply replied 3 months ago
My question was can a corporation be a beneficiary of a deed of trust on a property in Arizona. If we make a first trusteed and put our corporation as beneficiary of the note and deed is that legal. We are not the owner of the property and I already know that they can be a trustee. Can they be a beneficiary of a note and deed of trust in Arizona stupid

I'll be opting out of this question. Good luck.

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Customer reply replied 3 months ago
I did not call you stupid. My son was calling his sister stupid as he walked by and I was pushing the send button. Couldn’t stop it
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,926
Experience: Texas Attorney for 30 years dealing in real estate
Verified

You can make a corporation the beneficiary of deed of trust.The only drawback I see is that you need a lawyer here if you have to take something to court.You cannot rate a corporation here it has to be a lawyer.

So if it was an individual you could pro se file for say foreclosure or sue for deficiency, corporation has to have a lawyer.

I appreciate the chance to help you tonight.Thanks

If you can positive rate 5 stars it is much appreciated.

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WiseOwl58
Category: Real Estate Law
Satisfied Customers: 5,388
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Phone call session started
Customer reply replied 3 months ago
I did not accept the phone call. I was signing a borrower up for loan docs at that time and my voicemail accepted it. Scam company. I am getting the charge reversed. Internet is a great way to give bad reviews.

I am sorry you gave me a negative rating.Please don't negative rate me the site sent the phone call offer not me.Ask any followup you have here.

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I want you to be satisfied its my birthday.Please ask anything you have as followup.

Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,926
Experience: Texas Attorney for 30 years dealing in real estate
Verified
Ray and 87 other Real Estate Law Specialists are ready to help you
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Customer reply replied 3 months ago
Happy Birthday. I'll be satisfied when the site ( of which you are affiliated) state sin writing and reverses the $59.00 charge that I did not accept. I have nothing against attorneys. I own a mortgage company and deal with them often ( in behalf of my clients)
Never been sued since 1980, because I do get legal advise and pay for it. Usually worth every dime to save a state license and time in court.I apologize for the rating but that was the only way I saw to rate.

Have a blessed day.

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