What Is A "land Trust"?

What is a "land trust"? I hear that that is a way to get a property sold fast. What are they talking about? confused

Comments(2)

  • jeff1200226th November, 2003

    A land trust is essentially a revokable living trust that has been established specifically as a device used to hold title to real estate. Putting title of real estate that you hold into a land trust will not by itself help you sell a property any faster or slower. It can be used to transfer title without notifying the world that there has been a change in title. This can be a good thing if the existing financing is to remain in place, or you are trying to hide assets from prying eyes. They have been used as a crucial part of creative real estate transactions and will continue to be used that way.
    Hope this helps,
    Jeff

  • JohnMerchant26th November, 2003

    Lots of posts here re trusts, land trusts, ILL Land Trusts, etc...essentially just a private agreement to hold title in Trust name.

    Has value in lots of other ways, incl. avoidance of will or probate issues.

    Since a trust can live,exist and operate for lots of years, through lots of beneficiaries, it' mgiht be a lot better to deed RE into a trust and then just convey the beneficial interest in the trust, rather than deed to an individual, then have to go through probate when he/she dies, etc.

    You need to look for these posts and read until you are knowlledgeable, no need to ask questions until you've read all the material here...then you won't have many unanswered.questions

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