Land Trusts
When you creating land trusts--do you need to open bank accounts in the name of each land trust.
Will banks loan $ to land trusts or do you need to take the loan out in an LLC and later transfer title to the trust.
Quote:
On 2006-02-11 09:51, ctrei wrote:
When you creating land trusts--do you need to open bank accounts in the name of each land trust.
Will banks loan $ to land trusts or do you need to take the loan out in an LLC and later transfer title to the trust.
No you do not need to open accounts in the name of each land trust. Banks usually require the loan be in an individuals name.