I own a property in Tennessee, which I am told does not recognize land trust by statute. I live in Florida and was wondering if I could form the trust in Florida and transfer the property in TN into it. I am trying to avoid the DOS clause by transfer into land trust then making LLC beneficiary. I plan on renting the property and am also curious how the insurance co. will respond to insuring a property in a land trust. Any suggestions would be greatly appreciated.
Thanks