please give me a hand on this...

General Real Estate Investing
1

I’m a real green new investor and I have several deals lined up to take over sub2 but I’m missing some parts of the puzle.

  1. I would like to put these properties in a land trust but everything I’ve read on them says that in TN they are not legal.
    can someone share some light on this.Thank you in advance
2

there is some issues with using land trust in TN and LA, but I don’t remember the specifics (I’ll have to look it up).

A very good reference is Mark Warda’s book on Land Trust

http://www.amazon.com/gp/product/188869906X/sr=8-1/qid=1154373973/ref=sr_1_1/002-3575277-6772858?ie=UTF8

it has an appendix with legal statutes and case law for every state.

3

what purpose will the land trust serve in TN???

it is not nescessary to do a land trust for a sub-to deal.

4

thanks a lot for your imput guys.God bless

5

the issue with land trust in TN is that it is Not an “Illinois-type” land trust in that the beneficial interest is not personal property; the beneficial interest remains as real property and thus subject to attactment of judgements.

in LA, the issue that Loiusana law has it orgins in French law and thus coupled with their Trust Code, there are some technical differences as to the finer details of the legal roles of the trustee and beneficiary.

6

Hey AAK5454,

Is there any way to get around this that you know of ? Thanks for kyour help…