Re: Can someone explain a … - Posted by David
Posted by David on September 07, 2003 at 14:13:21:
Besides giving you an easy way to buy property ‘subject to’ the existing mortgage, land trusts are also effective defensive strategy from a legal perspective.
I am not a lawyer but from what I have read the land trust allows you to hide ownership in a property as the trust is the owner of record and not you or your company. A land trust has at least one beneficiary. The beneficiary is listed in another document that is not on public record.
Land trusts are definitely the preferred way to hold real estate. However, I highly recommend you read alot and consult a competent attorney. There is a lot of legal advantages to using them and you want to make sure you do it right.