Expert: Hans Weber, Licensed Broker Associate - 9/30/2007

Question
Hello,

I read about experience and it seems you may be able to know the answer to this question.

My husband and I will be purchasing a house soon and we'd like to purchase it (no mortgage) through a Declaration of Nominee Trust with my mother as Trustee. Our main goal is privacy (versus probate avoidance). Her name as Trustee will show up in public records and not ours which is what want.

However, one small problem. My mother lives in Scotland and the title company said it could be a hassle for signing purposes. What would be the best way to have my mother (Trustee) authorize anyone else to sign for her on the house purchase papers/deeed?

I think I already know of some option but I don't know which would be simplest:

1. Add clause to Nominee Trust Agreement that a substitute trustee can be selected by beneficiaries (husband/me) when we are in the U.S.?
2. Have mother sign a Durable Power of Attorney?
3. Have a Managing trustee designation form or trustee appointment form?

I suppose I just want your opinion as to how you would handle it and what would be the easiest for us when it comes time to sign at escrow?

Thank you for your assistance.
Maria

Answer
Hello Maria,

Thank you for your question.  This is a bit beyond the scope of my knowledge and should probably confer with a real estate lawyer.  You seem to have researched it thoroughly and have a good handle on it already.

In my experience when an individual cannot attend a closing a Power of Attorney is created.

Not to be flip, when was the last time you mother came to visit?  Since your mother is needed to sign at the closing fly her in for a visit.  Then you can all celebrate the occasion together.

Good luck with your new home.

Hans