Watch This Before Forming A Land Trust

A land trust is something that is heavily promoted by a land trust alliance. However, there are many reasons to never use land trusts to begin with.

A land trust at its most basic level is a three party relationship. The grantor sets up the trust. The trustee holds legal title and equitable title to the trust. (Some of you may be asking: what is legal title? And what is equitable title?) However, the trustee duties are altered in a land trust. Beneficiaries are the third party, and they own a beneficial interest in the land trust. Beneficiaries can either be a primary beneficiary or a contingent beneficiary.

Beneficiaries are liable for issues with the land trust. And if the tenant’s claims meet all the elements of negligence, you’re going to be in big trouble! There are also issues with muniment of title, and probate law. But if you need probate help, having a land trust won’t make things better.

Luckily, people like Pace Morby are speaking out against them. However, we still need to spread the word, so please share this video!

#pacemorby #landtrust #beneficialinterest #landtrustalliance #trustee #trusteeduties #whatislegaltitle #whatisequitabletitle #beneficiaries #primarybeneficiary #contingentbeneficiary #munimentoftitle #probatehelp #probatelaw #elementsofnegligence

-
Subscribe to get the latest Direct Answers by Corporate Direct content:
@CorporateDirectInc

Follow Corporate Direct on Instagram:
-

DISCLAIMER: The contents of this video are NOT LEGAL ADVICE and do not apply to your specific circumstances. This information is provided for general informational and educational purposes only. Viewing this video DOES NOT CREATE AN ATTORNEY-CLIENT RELATIONSHIP. We highly encourage you to seek professional legal advice before acting or relying on any information contained in this video.

[МЕГАПоЗиТИВ-йе]

I have a question: I am not really after "asset protection" I just don't want to show up in a Google search as the owner or tied to the property in any way. So whenever someone searches for my name, I don't want the address to come up. This is for a new property I don't yet own. Isn't buying in a land trust perfect for that?

[marchelleschield]

I just completed my switch to Corporate Direct from another registered agent and what an easy, streamlined process. When I had a question, I received a prompt reply too. These videos have all been so helpful too!

[stormyacrefarms]

And what about the due on sale clause ?

[CrackheadOwen]

Is a land trust just for shelling actors? Seems shady

[mariawillard]

Is there a difference between a Nominee Manager and RA, and if so what is the difference?