Land Trust

A person wants to acquire my rent house with a land trust. Is this good? confused

Comments(2)

  • victorb21st August, 2003

    A land trust is just a way to hold the property for liability reasons. It is a question if you are happy with the $ you are getting for it.

  • jeff1200229th August, 2003

    Robert,
    Land Trusts have been around for years, and are a useful tool for investors and non-investor homeowners. It is a way to take title to property without having to appear as the title holder yourself in public records. There are several valid reasons to want to do this. Asset protection/estate planning. You can transfer title very descretely, shielding the transaction from a lendor that could call a loan due, minimize losses in a lawsuit etc. It is critical to be satisfied with the deal first and foremost. If you're selling with owner financing, make sure that your buyer signs personally for your note, and not the trustee.
    Good Luck,
    Jeff

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