I am not Bill, however, I will tell you, I have a very experienced Real Estate Attorney in town. Comes with the highest recommendations… And he doesn’t know nothing compared to Bill. I am constantly educating him. He says to me all the time, “WHY ARE YOU ASKING ME THIS QUESTION? YOU KNOW MORE THAN I DO !”
So, I am not surprised that you are finding yourself educating your attorney as well. I’m just waiting for him to start paying his 200.00/ hour fee to ME ! LOL
Bill, I’ve discussed Land Trusts with my attorney here in New Jersey, and he says he’s never heard of them being used here. I’ve even directed him to your How-To article http://www.creonline.com/articl96.htm.
Can you expound on the use of land trusts (or trusts) for purchasing property for the sake of annominity? How difficult are they to create and what problems exist in using them for this purpose. Why would other attorney’s not suggest using them as you do?
Posted by Mark (SDCA) on June 19, 2000 at 11:48:03:
Land Trusts are VERY easy to use. I have a template set up in my puter that all I do is change the address and legal description when I buy a new property. I take that along with the other closing docs at time of closing and that is it.
As far as I have found, the only problem is that the title company cannot handle it. So I execute the Quit Claim deed after the title company executes there’s. Also, most lenders will not let you take title in trust so if there is a lender involved you will have to take title personally and then Quit Claim the property into trust.
As for the benefit… I just did a property search on my name… Guess what?? It came up dry!! g