Legal entity by which an interest in real property is converted to an interest in personal property. Owners deed real property to the trust and receive an interest in the trust in return.
An association organized by common owners of real property, which holds title to the real property in the name of one or more trustees for the benefit of the owners, whose beneficial interests may be represented by trust certificates.
A trust originated by the owner of real property in which real estate is the only asset. Because the interest of a beneficiary is considered personal property and not real estate, a judgment against the beneficiary will not create a lien against the real estate. Thus land trusts are popular when there are multiple owners who seek protection against the effects of divorce, judgments or bankruptcies of each other.
An unincorporated association for holding real property by putting the title in one or more trustees for the benefit of the members whose interests are evidenced by land-trust certificates.
A private nonprofit organization, under § 501 (c)(3) of the federal tax code, that may receive donations of money, property or development rights, and may use its assets to purchase property or development rights.
A vehicle for holding real estate for the use of asset protection.
What does that mean in english? Is this something that someone with out a mortgage loan would like to get into. Is it a good method of real estate investing?
Quote:
On 2004-09-06 17:48, ralphes12 wrote:
What does that mean in english? Is this something that someone with out a mortgage loan would like to get into. Is it a good method of real estate investing?
ralphes12,
At this point I would suggest training in the use of land trust!
I have all my properties in TRUSTS, If there is a mtg on the property , one of my companies holds the paper. I use it because in my county you can punch in a name and find out what that person owns. Now when you use a trust that can not be done that easily. You have to now the name of the trust, plus the trustee, the settlers and the beneficiaries. I also use it because I don't want my tenants to know who owns the buildings. With a trust Ican be as big or small as the situation requires.
Legal entity by which an interest in real property is converted to an interest in personal property. Owners deed real property to the trust and receive an interest in the trust in return.
An association organized by common owners of real property, which holds title to the real property in the name of one or more trustees for the benefit of the owners, whose beneficial interests may be represented by trust certificates.
A trust originated by the owner of real property in which real estate is the only asset. Because the interest of a beneficiary is considered personal property and not real estate, a judgment against the beneficiary will not create a lien against the real estate. Thus land trusts are popular when there are multiple owners who seek protection against the effects of divorce, judgments or bankruptcies of each other.
An unincorporated association for holding real property by putting the title in one or more trustees for the benefit of the members whose interests are evidenced by land-trust certificates.
A private nonprofit organization, under § 501 (c)(3) of the federal tax code, that may receive donations of money, property or development rights, and may use its assets to purchase property or development rights.
A vehicle for holding real estate for the use of asset protection.
What does that mean in english? Is this something that someone with out a mortgage loan would like to get into. Is it a good method of real estate investing?
Quote:
On 2004-09-06 17:48, ralphes12 wrote:
What does that mean in english? Is this something that someone with out a mortgage loan would like to get into. Is it a good method of real estate investing?
ralphes12,
At this point I would suggest training in the use of land trust!
I have all my properties in TRUSTS, If there is a mtg on the property , one of my companies holds the paper. I use it because in my county you can punch in a name and find out what that person owns. Now when you use a trust that can not be done that easily. You have to now the name of the trust, plus the trustee, the settlers and the beneficiaries. I also use it because I don't want my tenants to know who owns the buildings. With a trust Ican be as big or small as the situation requires.
LORI
[addsig]