Land Trust Beneficiary Question
Hey gang, if we are setting up a land trust on a property purchased sub to and we are also in the process of creating a company as we start REI part time,. what do we need to do in order to be able to name the company as the benficiary?
By this I mean, can I obtain a business license for the new company as well as a tax id and then name the company XYZ Equities as the beneficiary? We will incorporate within 60 days but are doing the sub to paperwork very soon so I was hoping to simply get the biz started with the license and tax id. I would really like to put the company as the beneficiary, so that both my partner and I are named.
Thanks in advance.
Suntzu18
You can create the Trust now with you and your partner as beneficial owners.
When your Corporation is in place you can subsequently make it the beneficial owner through an Assignment of Beneficial Ownership from yourselves to the Corporation.
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