Drop The Word Land, Just Call Them Trusts

Trusts offer many benefits to real estate investors. The fact that they are poorly understood by most people, including attorneys, CPAs and title agents is one of the major benefits. Much confusion and resistance comes from the mention of a land trust. I have been told they are not allowed in this state, or that state. Drop the word land, just call it a trust. It is revocable; a grantor trust. You can call it the Smith family trust or the Smith IV trust. The IV does not mean inter vivos. It doesn't mean anything. Have the property deeded to a trust, make a trust agreement between the trustee and the beneficiary, which no one sees.

Are they allowed in all states?

They are allowed in all 50 states. Five states have land trust statutes; Hawaii, Illinois, Indiana, North Dakota, and Virginia. Arizona, Arkansas and California have court opinions which have recognized land trusts. In these states it's okay to use the term Land trusts.

These in combination with personal property trusts for notes, vehicles and other duties further confuse the opposition. The IRA trust for checkbook control of your funds also brings the general benefit of privacy, safety and ease of operation.

 

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One thought on “Drop The Word Land, Just Call Them Trusts

  1. Anri says:

    Unless you have fair credit to start with to buy your own home or uslnes someone gives you a lot ofmoney there is no way.1st. you need to be able to get a mortgage and for that you have to be able to qualify at least for an FHA loan. So honestly the important thing to do is work on improving your fico credit score. To startat least 621 or above. Pay your bills on time.That is the key to raising that score and or forany lender to even look at you.Believe me I’ve been there.References :

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