Presenting a live 90-minute webinar with interactive Q&A Avoiding "Due on Transfer" Provisions in Land Trusts and Single-Member LLCs A Real-World Guide to Garn-St. Germain Act Exemptions WEDNESDAY, MARCH 22, 2017 1pm Eastern | 12pm Central | 11am Mountain | 10am Pacific Today’s faculty features: William Bronchick, Principal Shareholder , Bronchick & Associates , Aurora, Colo. Bryan Dunklin, Law Offices of Bryan Dunklin , Dallas The audio portion of the conference may be accessed via the telephone or by using your computer's speakers. Please refer to the instructions emailed to registrants for additional information. If you have any questions, please contact Customer Service at 1-800-926-7926 ext. 10 . NOTE: If you are seeking CPE credit, you must listen via your computer — phone listening is no longer permitted.
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Avoiding "Due on Transfer" Provisions in Land Trusts and Single-Member LLCs Strafford Webinars Strafford Publications, Inc. 590 Dutch Valley Road NE Atlanta, GA 30324-0729 Tel: (800) 926-7926 x 12 Tel: (800) 926-7926 x 12 Fax: (404) 881-0074 Presented by Presented by William William Bronchick Bronchick and Bryan Dunklin and Bryan Dunklin March 22, 2017 March 22, 2017 5 5
William Bronchick, Esq. William Bronchick, Esq. Self Self-unemployed for 26 years unemployed for 26 years Admitted to practice before New York Bar in 1991 Admitted to practice before New York Bar in 1991 Admitted to practice before Colorado bar in 1996 Admitted to practice before Colorado bar in 1996 Admitted to practice before Colorado bar in 1996 Admitted to practice before Colorado bar in 1996 Practice limited to real estate, asset protection, and estate Practice limited to real estate, asset protection, and estate planning planning Author of six best Author of six best-selling real estate and business books selling real estate and business books Licensed real estate broker Licensed real estate broker 6 6
Bryan Dunklin, Esq. Bryan Dunklin, Esq. Admitted to practice law before Texas Bar in 1980 Admitted to practice law before Texas Bar in 1980 Licensed real estate broker in Texas for 28 years Licensed real estate broker in Texas for 28 years Taught real estate and business law at Southern Methodist University Taught real estate and business law at Southern Methodist University for 23 years for 23 years Frequent speaker and author for various bar associations Frequent speaker and author for various bar associations Chosen as “Best Speaker” by the State Bar of Texas Advanced Real Chosen as “Best Speaker” by the State Bar of Texas Advanced Real Estate Law Course for “Texas Series LLCs” Estate Law Course for “Texas Series LLCs” Former Chairman, Dallas Bar Association Real Property Section Former Chairman, Dallas Bar Association Real Property Section Frustrated Frustrated musician musician Great joke teller Great joke teller 7 7
OUTLI NE OUTLI NE History of the due on sale clause, and of the Garn-St. Germain Depository Institutions Act Brief definition of “due-on-sale/due-on-transfer” provisions provisions Exceptions that the Garn-St. Germain Depository Act provide to the enforceability of contractual due-on- transfer provisions in mortgages Drafting revocable living trust documents to hold encumbered real estate Structuring the transaction to avoid the acceleration provision Transfers into single-member LLCs 8 8
BENEFI TS BENEFI TS The panel will review these and other key issues: – What are the specified transfers exempt from enforcement of due-on-sale/acceleration clauses as enforcement of due-on-sale/acceleration clauses as they relate to estate planning? – What are the practical requirements that a trust must have to ensure that a transfer of qualified property does not trigger an acceleration clause? – What are the specific traps that trust counsel must avoid in structuring a trust transaction? – Sample language for trust documents 9 9
LEARNI NG OBJECTI VES LEARNI NG OBJECTI VES After completing this course, you will be able to: – Identify the transfers exempt from enforcement of due-on-sale/acceleration clauses for estate planning due-on-sale/acceleration clauses for estate planning purposes – Discern trust provision requirements to ensure that a transfer of qualified property does not trigger an acceleration clause – Determine transfers into LLC structures that will not violate “due-on-transfer” provisions – Recognize specific tax traps that trust advisers must avoid in structuring a trust transaction 10 10
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