Question! I Have A Warranty Deed To Trustee As Well As A Land Trust?
I have a warranty deed to trustee, as well as a land trust. Must I record the land trust? What are advantages and disadvantages if any?
Thank You :-?
i know this varies from state to state. the warranty deed to trustee is part of the land trust. my attorney advises me to always record it, i guess to protect the property from lawsuits or leins by the previous owner. we record it with the previous owner still as beneficiary. we have the beneficial rights transfered from the previous owner to us, but we dont record this until we find a buyer and there loan is underwritten. im sure there are various ways to do it. i would ask a attorney well versed in trusts and creative deals. hope this helps.
You record the warranty deed, not the trust agreement.
Jeff, so you only record the deed to trustee, and not all the other stipulations and crap. and you dont record anything about who the beneficiary is? if thats the case that would save me some big money at the recorders office, recording 20 something pages aint cheap.[ Edited by ZinOrganization on Date 02/07/2005 ]
thanks jeff, that helps me out in a huge way.
Title Holding Trusts or Land Trusts are designed for privacy and confidentiality of ownership. Generally, you always record the Deed in order to record the conveyance of title of the property into your Land Trust, and you never record the Trust Agreement unless you have a specific reason for doing so and do not mind disclosing the terms of the trust and the beneficiaries.
The requirements vary from state to state. Florida has a very favorable Land Trust Code. You do not need to and should never record the Land Trust Agreement. You do need to make sure that your Land Trust Agreement follows Section 689.071 of the Florida Statutes.
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