:huh
Is there a formal process to establishing a trust as an entity?
If a trust is allowed can it just be determined by each property?
Is it the state or the title companies that determine if these can be used?
And finally, what is the purpose of using them?
Thank you!
An attorney drafts a trust agreement. It is notarized and the trust is funded.
A land trust holds 1 property.
The state.
Legitimate reasons include estate planning and privacy. Some use them illegitimately to hide the chain of title. They have no asset protection value, even though some gurus claim otherwise.
thank you!
You can create your own trusts as well. You just have to read a good course on land trusts. Try Dykes Botiford
Who is Dykes Botiford? Someone else recommended Mark Wanda and another Bill Gatten. If a person has a significantly capable legal mind, and wants to thoroughly understand Trusts as they are used in Real Estate, who writes the definitive text on the matter?
No one. Trusts operate at the state level. That’s why general, one-size-fits-all documents have little value.
Here’s a 15-20 min recorded conversation about land trusts:
http://topforeclosuretraining.com/blog/category/talks-with-marty-and-david/
ROI