For those experienced in creating land trusts…
In the legal code § 1701j–3. Preemption of due-on-sale prohibitions, one of the exemptions is written:
“a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property”
Question: Does this mean I must be a beneficial member individually or can my LLC in which I’m a member be considered my benificial interest?
Thanks!