Land Trust In Texas
I have talked to several RE Lawyers here in Waco Texas and have just found one willing to listen to me concerning Land Trust. He seems like a great guy and is willing to work with me and good to talk to. Most of the lawers here seem to take a stand that Texas does not do Land Trust
What I need is this, if someone is willing to help ------
Does anyone have a Lawyer that my Lawyer can contact to get the low down on land trust in Texas.
I need to set him up with some precidents before He will persue it.
Having that he said he would be glad to assist me.
Thanks for any help possible!!!
<Whaco in Waco>
One more time folks.........
Does anyone have any experence in using...
Land Trust in Texas ???
I have not used land Trust but am willing to listen to your attorney, if he is a nice guy. Land Trusts are very important to learn on TCI. Thank you for posting this important question~~~~~ !!!!
Well, at least I tried!!!
Guess there are no Real (estate) Texans here.
"Trusts" is a required law school course so if your lawyer doesn't have some basic trust knowledge, it's because he didn't pay attention or just doesn't WANT to know about how to use them for his client's benefit.
Go get another lawyer.
I'm surprised to learn that Texas is now a state. But, I'm not surprised that you can't find an lawyer who knows how to do land trusts in that state. That's a ubiquitous problem in virtually all states.
My advice is not to use ANY attorney who is not an expert in land trusts. Why would you want to pay for his education?? I assure you that it will be costly and the product will be of inferior/marginal quality.
A land trust is an hybrid of a revocable trust which is beneficiary directed. If not property constructed AND administered it can potentially cause you more problems than it solves. I've read may land trust documents which would be characterized as dry trusts/failed trusts and would be laughed out of court.
Either use a quality land trust document and have a knowledgible trustee or follow the advice most lawyers gave me when I enquired about land trust. Why not use a LLC? My answer to them would require a whole new post.
I know an attorney in San Antonio who is very familiar with using Land Trusts in Texas. send me a private message & I will give you his name.
Hi there,
The Realty Investment Club of Houston (they have a website, www.richclub.org)
has two attorneys who are well versed in Land Trusts in Texas. Send me a private email and I will give you their names and phone numbers.
Thanks folks, I appreciate the information fromm all of you. I will be in touch with the Real (Estate) Texans here for further information. I have the documents for trust and trust agreements but always looking for more info before the leap to verify what I am doing.