The Importance of Naming the Right Trustee

We have had a lot of posts regarding land trusts and the NARS land trust. The main difference I see between the two is that in traditional land trusts, a friend or associate is usually named as Trustee, whereas all NARS trusts use a non-profit corporation named Equity Holding Corporation as Trustee. Why?

While almost anyone can be named the “trustee” of a land trust, there are definite benefits to use a Corporate Trustee as the trustee of your land trust. Appointing a trustee other than a corporation would allow the property to fall into the trustee’s probate and other legal problems: but a corporate trustee (in virtually all states) must be a trust company only (bank and trust, title and trust, XYZ trust company) … or a non-profit corporation acting only for the benefit of its certified members.

Equity Holding Corporation, with the benefit of “unlimited life” was founded and established exactly for this purpose. The Corporation is Bonded against fraud and dishonesty. Equity Holding Corporation serves as Trustee for hundreds of Trusts Nationwide.

Our Trustee, Thomas Standen, attended the University of California at San Diego and is a graduate of the FBI National Academy. He holds a lifetime teaching credential and has a background of over 20 years in Law Enforcement both in Command and Administrative Positions, retiring in 1979 as an Area Commander.

His experience and integrity have been confirmed by the Court as an appointed Referee and Receiver by the Superior Court. Tom is a man of vision with enormous entrepreneurial skill and ability. He has been involved in the Real Estate and Mortgage Industry since 1976.

You have the right to name anyone you want as Trustee. I just feel very safe with Tom running the show.