Another Land Trust Question
Can you get a factious business name and use that name (the DBA) as the trustee if you use land trust.
Can you get a factious business name and use that name (the DBA) as the trustee if you use land trust.
Good question, I'd like to know if this can be done also.
Mike
Does anyone know the answer to this.
It should not be a problem however, the vast majority of states require a business to be licensed and bonded if it serves as a trustee. Now, this law is designed to protect people from unscrupulus trustees because they are in a postion of control over another person's assets. In this case, you are in control of your own assets thus, if you steal from yourself you must sue yourself. I would love a case like that so I can double bill. : )
The downside -- If your trust is sued I would try to convince the judge you are a maverick who is ignorant and disregards the law in your business dealings (use of biz as trustee etc..). Thus, I see some risk in doing what you are suggesting.
Respectfully,
Clint Coons, Esq.
[addsig]