Furthermore I have the following included in my agreement to purchase.V.OCCUPANCY: Exclusive irrevocable occupancy shall be delivered to Buyer, Buyers Assignees, or Buyers Agents at 5:00‭ PM on the date this agreement is signed by seller, unless a rescission period is granted to the seller according to paragraph XLIX.

Irrevocably.

V.OCCUPANCY: Exclusive irrevocable occupancy shall be delivered to Buyer, Buyers Assignees, or Buyers Agents at 5:00‭ PM on the date this agreement is signed by seller, unless a rescission period is granted to the seller according to paragraph XLIX.

When I put a Short under contract I specify within my agreement that I have irrevocable and exclusive occupancy on a day specific...

OCCUPANCY: Exclusive irrevocable occupancy shall be delivered to Buyer, Buyers Assignees, or Buyers Agents at 5:00‭ PM on the date this agreement is signed by seller, unless a rescission period is granted to the seller.

V.OCCUPANCY: Exclusive irrevocable occupancy shall be delivered to Buyer, Buyers Assignees, or Buyers Agents at 5:00‭ PM on the date this agreement is signed by seller, unless a rescission period is granted to the seller according to paragraph XLIX.

I don't think opening a bank account will be an issue, you can likely open a trust banking account depending on the trust structure (revocable vs. irrevocable). 

Andy, it depends on what kind of Trust you have, irrevocable, revocable trusts have different implications.

If the trust is irrevocable the gain may or may not be taxable, depending on how the trust is drafted.

Quote from @DeAnna McKillop-Lopez: I have been hearing a lot of people speaking about putting your holding LLC into an irrevocable trust.