Land Trusts In Tennessee???
Originally posted this in the Subjec To Forum. Any help would be greatly appreciated ....
New to the game and getting my "ducks in a row" before venturing further, but I have seen on various websites and have been told by a lawyer friend (albeit an insurance lawyer) that land or title trusts are not recognized in Tennessee or Louisiana. As an example, see the following link (from which the verbiage below was copied):
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"Freedom from judgment lien attachment to the property. In a properly constructed land trust in states wherein land trust are viable (all but Tennessee and Louisiana), judgment liens of any kind against beneficiaries do not attach to the land (even including IRS and State Welfare liens). "
Another recommended utilizing a LLC. However, ...
As for an LLC, they are both franchise and excise taxed in Tennessee. The exemptions from such are quite specific and seem geared toward farming and dealing in the selling of mortgage-backed securities.
You can exempt the LLC from these taxes, IF you are willing to be personally liable for the LLC. Kind of defeats the purpose.
Am I making this more difficult than it needs to be? 
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