I'm not familiar with Tennesse practice but if they have land trusts I assume that the "normal" way to handle this is that a bank is the trustee. For the few dollars a year it costs to get them to do it-- I'd let a bank be the trustee unless you've got some compelling reason not to do so.
LLC as benefical has much better assest protection than you as beneficial. In a FL land trust, the same entity can be both a trustee and the beneficial.
what are you trying to accomplish?
just put a home in a land trust.
Yes you can do it this way but I guess I looked at the "my" word to hard.
You weren't asking to do things this way so you can put your personal home in a trust were you?
no an investment property
Verb,
If you are going for anonymity and asset protection, you being named as trustee blows that idea.
Kelly(WI)
For privacy put your LLC as the trustee with you as the bene.
The beneficial interest is a private document & should not be recorded .
For asset protection you should have another entity other than yourself as an individual as the Bene.
Hey, what's wrong with having your LLC as both the trustee and the beneficiary?
The LLC, afterall, can be anonymous by using someone else as your authorized agent to submit the Arts of Org filing.
so, privacy and asset protection.
I'm not familiar with Tennesse practice but if they have land trusts I assume that the "normal" way to handle this is that a bank is the trustee. For the few dollars a year it costs to get them to do it-- I'd let a bank be the trustee unless you've got some compelling reason not to do so.
LLC as benefical has much better assest protection than you as beneficial. In a FL land trust, the same entity can be both a trustee and the beneficial.
Brenda