This is another circumstance in which you are encouraged to carefully consider how your Trust is structured . Whenever you are a CoBeneficiary , you want to avoid being left out of the process when the Director might direct the Trustee to do something . You want to be included in decisions like borrowing against the property or signing a longterm lease . As with Reason # 1 , you could exercise control over who or what is the Director . Another strategy is to be sure that the Director cannot act without unanimous consent from the Beneficiaries ( this depends on how constitute doing business in the state where your opportunity lies .
There are a few other situations in which you will find a Titleholding Trust , a Grantor Revocable Trust , or , as we like to say , a Land Trust to be your essential real estate investing tool . There are others .
Reason # 4 : You were a successful real estate investor before 2008 when the world came crashing down on you .
You now have liens and judgments filed against you in the county where you do business . Your exspouse has his / her think , “ There must be a better way to own real estate .”
Reason # 6 : There are hundreds of thousands of lawsuits filed every year in America .
Many of these lawsuits are filed against the owners of real estate because they are easy prey for contingency fee lawyers and their deadbeat clients looking to make a quick buck off honest hard working real estate investors . ( I read about one investor who bought a vacant lot and signed personally for the financing . The buyer discovered after the purchase that the site had been a gas station with underground gas storage tanks that polluted the ground . The EPA was a constant threat . The buyer stopped making payments on his bank loan and now the bank is foreclosing ).
These are just some common reasons why investors need to consider Land Trust . Thank you . If I can help you in any way , please be sure to reach out . much power you yield to the Director temporarily or permanently ).
Reason # 3 : You are an outofstate investor / corporation / LLC , but you are not licensed to do business in the state where your opportunity lies .
Registering in the state where you want to invest would cause you to pay large fees and possibly result in state tax issues and multiple tax returns . You need to find a way to do business that preserves your low profile and protects your profits .
Voilà ! A Land Trust is a contract between consenting parties . It is not a business . Therefore , holding real property in a Land Trust does not attorney trying to collect unpaid child support / alimony , and the IRS has sent their agents looking for you . In short , your life is a total mess . Putting the title to real estate in your personal name would be lethal to your financial wellbeing . The only way you know how to make money is to buy / sell / rent / rehab real estate .
Reason # 5 : You are a bigtime wheelerdealer in real estate .
You own / control properties in multiple states . When you die , your estate will have to go through ancillary probate in all states where you “ own ” ( read here : “ control ”) property . Distribution of assets to your heirs will be delayed for months and legal expenses will diminish the value of your estate to your heirs . You
Mr Land Trust www . landtrustsmadesimple . com randy @ mrlandtrust . net
MEET RANDY HUGHES
I encourage you to learn more by going to my FREE online training at www . landtrustwebinar . com / 411 and text the word “ reasons ” to 2062032005 for my free booklet , Reasons to Use a Land Trust . You can also reach me the oldfashioned way by calling me at 217355 1281 . ( I actually answer my own phone , unlike most other businesses in America today !)
Apply these lessons from a cockroach lifestyle and you WILL succeed !
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