A city administrator called me the other day looking for the owner of a property I control. He called because I am the property manager of the building. The administrator said the city wanted to make some improvements to the intersection outside of the building. To do that, they needed an easement signed by the owner.
He went on to tell me that he had been trying to contact the owner of record who was a professional trustee company. “Apparently,” he informed me, “the trust company has gone out of business.”
I smiled and said, “Maybe I can help.” I told him to send me what he needed to be signed and I would forward it to the owner/trustee.
The back-story to this event is that my professional trustee went out of business. When they did, they transferred all of their interest to Chicago Title Land Trust Company. Chicago Title has been my trustee for the past four years. Obviously, I chose not to have a deed recorded from the old trustee to the new trustee when the transfer occurred.
At some point (when I sell or refinance), I will have to record Chicago Title as the real owner. But, in the meantime, I will leave the public records the way they are for continued anonymity and asset protection.
Update! Reader Kirby asked, “So are you having Chicago Title sign the easement and revealing to the city that they are now the Trustee?”
Great question, Kirby! Thank you for writing and asking it. Here’s your answer: No, I did not tell the City about Chicago Title. I signed the document as the “Property Manager, Agent for the Trust.”
The document in question was not going to be recorded anywhere and I wanted the city to deal with me anyway as they would ultimately send me a check for the right-of-way they were seeking.
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