Hello again, to all who read this post, my question is can a “Illinois type” intervivos land trust be a shareholder in a S-corporation?
I’m not a lawyer, so don’t take my word as gospel, but IIRC, the share holders of an S-Corp must be a person. I had wanted to have my C-corp be the share holder in my S-Corp and it was not allowed.
Thanks for the response Wilson, I continue investigating this subject. If I find anything new, I will post it.
Have an excellent day.
As to your question I do not believe so.
An LLC or S or C Corp can be a beneficiary which is vested into the land trust but not the other way around.
I believe it needs to be a natural person but check with a real estate attorney on corporate structures.
They provide 2 different and distinct functionalities.
thanks for the reply Colvegas, I have been conducting my own research, and I believe that you are correct and accurate in you response.