Recently I was talking to a real estate investment club owner about speaking to his club regarding land trusts (LT). He said, "we do not believe in using LT's because they are dishonest." He then went on to explain how someone had come to his club and spoke about LT's and that led him to believe that the use of a LT was for deception and taking advantage of people.
I told him that I was sorry that he had been misinformed about LT's and trusts that he should reconsider their use and benefits. So, let's review why it is important to NOT have your name in the public records as owner of property:
1. A group of people may be purchasing several properties for a special purpose and it may be that the desired result can be best accomplished if the objective is not made public.
2. Co-owners might desire that the interest of each beneficiary must be kept private.
3. An individual owner might not want to be hassled with inquires regarding the property.
4. A real estate investor might not want his competitors to copy his acquisition techniques.
5. Real estate investors do not want their tenants to know they are the owner of the property (helps with day-to-day management).
6. Co-owners want to know that a lien or judgment or divorce of one owner will not affect the title to the property
7. Out of state owners can avoid probate and other legal issues upon death-smooth transition of succession.
8. A group of Heirs can inherit a property held in a land trust with ease of management (by the director) and no need for a partnership agreement and a partnership tax return
9. Co-operative housing corporations may elect to hold title to their land and buildings in a land trust. They could then issue beneficial share to their residents in place of stock certificates-simplifying control and record keeping.
10. The Trustee signs the mortgage that gets recorded... preventing the debt from showing on the borrower's credit report.
Land Trusts have been used by American citizens for over 100 years for good reasons. There are many legitimate reasons to use a LT for privacy and asset protection. No one will protect your assets like YOU will. Learn all you can now because "old and cold" matters. Every since 9/11 it gets harder every year to be private and protect your assets. Do it now! Don't delay!
Randy is a full time real estate investor who purchased his first rental house in 1969. He has purchased over 200 houses and teaches other investors how to put their properties into Land Trusts for privacy and asset protection. Randy is a national teacher, author and mentor. Randy writes the only Land Trust Newsletter in the county and is the founder of the Land Trust University (an institution that teaches real estate investors how to set up and administer their own Land Trusts). Residing in Illinois (the granddaddy state of Land Trust Law), Randy knows more about Land Trusts and how to link them to other entities than anyone else in the America today. You can reach Randy at: http://www.realestateforprofit.com or call him at 1-866-696-7347.
If you would like a FREE written report explaining all the reasons to use a Land Trust, please contact me and I will email you this valuable information.
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