Land Trust - How?
How do I do a land trust for a multi-unit that I am going to purchase as an owner/occupant? I have never done this before so I have no clue. What paper work do I need and where do I get it? Does it cost anything to do a land trust? Can I do this myself or do I need an attorney? Please help. Thank you!
I want to keep my ownership private.
Shaydog, thank you for the info. This is helpful.
On the other post concerned about personal liability - this should be covered by insurance - correct?
Regarding liability, obviously your insurance coverage is most important and you should get as much insurance as is feasible for you. What you could do is put the property in a land trust (for privacy concerns) and make the beneficial owner a newly formed LLC (for a little added liability protection for you). Be aware though that if the LLC consists of only you and you are actively managing the property, and an unfortunate accident occurs, the LLC and you personally will likely be named parties in a suit. So the LLC is not absolute protection for you...just an added layer. If you do it this way, make sure your insurance policy names the LLC, you, and probably the land trustee as named insureds under the policy. Hope this helps and good luck!