Your Input Checklist

THE PURPOSE OF THIS FORM:

The following form is designed to provide you with a simple-check off sheet in order to assure yourself prior to documentation that you are in possession of all the information you’ll need for final data-input relative to your EHTrust™ Transfer™. Merely check the items as they are collected: this form is for your use only and need not be provided to Open Door Wealth (having all requisite documentation at your fingertips will greatly speed the documentation process, from drafts to final documents).

MATERIALS TO HAVE ON HAND:

Prior to completing you will need to gather the following necessary items. Some of these documents will be required by the documentation specialists for completion of your EHTrust™ Transfer™ as shown by (required).

• The property’s Grant or Warranty Deed (Bargain and Sale, etc.).  A COMPLETE copy of the Deed showing exact Title Vesting, Tax Assessor’s reference number & legal description (IN CAPS) for the property. (required)
• Mortgage Statement.  The lender’s Mortgage Statement showing current balance, monthly payments due, escrow impound balance, amounts to be paid and payment mailing address. (required)
• Payment Coupon. If the correct mailing address for payments is not included in the Mortgage Statement, then we need a recent monthly payment coupon for the underlying trust deed(s) of record. (required)
• Note, Deed of Trust and Mortgage.  A COMPLETE copy of the Note and the Deed of Trust and the Mortgage securing the loan(s) of record. (required)
• Tax Bills. Copy/ies of CURRENT Property Tax Bills and any past due notices or bills. (required)
• Insurance Policy Declaration page.  I.e.,  for Fire Insurance or  other insurance policies re. the subject property.  NOTE tht existing hazard insurance will need to be converted to non-owner (landlord) coverage, wit h all data remitted (policy number,, showing premium, due-date & expiration dates of policies. (It is recommended that the resident beneficiary/tenant obtain its own renter’s/tenant’s insurance in order to cover personal items of furniture and fixtures (required)
• Private Mortgage Insurance (PMI) Statement.   If applicable and not included in Mortgage Statement, Private Mortgage Insurance (PMI) Statement showing monthly amount due and mailing address.
• Escrow Analysis.  I.e., iIs the underlying note escrowed (i.e.,impounded) to included taxes and/or insurance?  If YES, then we need a recent statement showing when the account was last analyzed.
• Home Owners Association Statement. (If applicable) Home Owners Association Statement or payment coupon showing monthly amount due and mailing address.
• Arrearages and back payments.   (If applicable) Please provide Arrearages Letter or statement of back payments due, showing amount due, date due, penalties due, and complete mailing address or wiring instructions.
• Purchase Offer Although not required, the Purchase Offer form, when used, can be a very helpful document for enabling our processors to more fully understand your transaction.

Your Data Checklist:

Most of this information is accessible by the collection of documents above. Additional information will be needed for the beneficiaries of the trust as shown below. Once you have reviewed the following items you will be ready to begin the input process (click here).

THE TRUST

• Estimated Trust Start Date (mm/dd/yyyy)
• Term of Trust in Years (`typically 1 to 21; but can be less or more if special circumstances would so dictate)
• Mutually Agreed Value (MAV) (An agreed upon property value between parties in the trust prior to inception. This value will be used for future calculations of proceeds at the termination of the trust.)
• Can the trust term (and lease term) be extended beyond the scheduled termination date?
  • If yes, include extension fee, if any.

THE PROPERTY

• Property’s address (Street and Number); city state and zip code
• Assessor’s Parcel No. (APN), or Tax Identification No. (TIN)
• Title Vesting (This is found on the title transfer deed currently in place on the property).
• Legal Description (Important to have the full legal description. This is found on the title transfer deed currently in place on the property).
• Title Insurance Carrier (Include name, address, phone number, e-mail address and contact name(if known))

THE PRIMARY BENEFICIARY

(The owner/mortgagor [“seller”] of record : The “Settlor-Beneficiary” (‘spouses or co-signed domestic couples are to be listed as “the” primary (settlor) beneficiary (i.e., Bob and Mary Smith as the “Settlor Beneficiary”)

• Complete Legal Name
• Spouse’s Complete Legal Name
• Forwarding Mail Address once the proposed transaction is complete
• Primary Phone and Fax
• Email Address
• Percent of Beneficiary Interest (to be held during the term of the trust)
• Percent of Profit (to be disbursed upon sale or disposition of property at trust termination)
• Refundable Contribution (Refunded at the sale or other disposition of the property at termination of the trust. The beginning equity should be included here along with any other refundable expense paid by this beneficiary.)

CO-BENEFICIARY:

• Beneficiary Type (Resident / Investor / Successor / Co-Beneficiary)
• Complete Legal Name
• Spouse’s Complete Legal Name
• Forwarding Mail Address once the proposed transaction is complete (Street Address, City, State and Zip)
• Primary Phone and Fax
• Email Address
• Percent of Beneficiary Interest (to be held during the term of the trust)
• Percent of Profit (to be disbursed upon sale or disposition of property at trust termination)
• Refundable Contribution (to be refunded upon sale or disposition of property at trust termination)
• This beneficiary shall have possession and control of the property?

RE. UNDERLYING FINANCING: MORTGAGE HOLDER (LENDER)

• Account Number
• Date by which the loan is to be paid off
• Payment Amount and Due Date
• Arrearages (Past Due Payments)
• Name of Lender to whom the payment is made to (i.e… Make Payment to on monthly statement.)
• Name of Contact (if known)
• Customer Services Email Address (re. billing/accts receivables)
• Customer Services Phone and Fax (re. billing/accts receivables)
• Mortgage Holder’s Mailing Address where payment are to be sent (double & triple check this one)
• Are property tax payments impounded by this lender?
• Are insurance premiums impounded by this lender?

Insurance Information

• Insurance Type (Hazardous / Flood / Earthquake / Mortgage / Renters)
• Name of Insurance Carrier
• Payment Mailing Address of Insurance Carrier
• Phone Number of Insurance Carrier
• Payment Amount and Due Date
• Payment Cycle(Monthly / Quarterly / Semi-Annually / Annually)
• Amount of Coverage
• Arrearages (Past Due Payments)

PROPERTY TAX

(Enter the amount per payment on an annual basis. If you pay bi-annaully then there should be 2 payments)

• Name to Make Payment
• Payment Mailing Address
• Arrearages (Past Due Payments)
• Each Payment Amount and Due Date
• Total Annual Payment Amount
• Calculate the monthly amount by dividing the total by 12. The amount owed will be prorated at inception and due to establish the escrow account required to make the annual payment.

HOME OWNER’S ASSOCATION

(Enter the amount per payment on an annual basis. If you pay bi-annaully then there should be 2 payments)

• Name to Make Payment
• Payment Mailing Address
• Email Address
• Phone Number
• Arrearages (Past Due Payments)
• Payment Amount and Due Date
• Payment Cycle(Monthly / Quarterly / Semi-Annually / Annually)

Additional Payments

(Transactional payments not included above. these may include payments to agents, payments due from one beneficiary to another, etc…)

• Payee (“Make Payment To”)
• Payee Mailing Address
• Payee Email Address
• Payee Phone Number
• Payment Amount and Due Date
• Payment Cycle(Monthly / Quarterly / Semi-Annually / Annually / One Time / Closing / Termination)

Documentation preparation is handled by the scrivener services of Open Door Wealth Management, LLC a Nevada Limited Liability Company, under the direction of, and oversight by, Attorney Maurice Kempner, of Kempner and Associates, Camarillo, California.