Good Definition Of A Land Trust - Posted by Mark


#1

Posted by David Alexander on December 18, 1998 at 14:52:12:

A lot of us are on a much smaller scale, at least for now.

Land Trusts are and an Intervivos, revocable trust.
They are used to take legal\Equitable title to Real
property, whereupon a Trustee of the trust carries
out the instructions or Duties for the Beneficiaries.

Intervivos means created while living.
Revocable means it can be revoked or changed.

They are used to

Avoid Probate, avoid liability, judgements, keep your
property hidden, because if you don’t own anything no
one wants it. Controlling without owning.

And Make More Money.

David Alexander


#2

Good Definition Of A Land Trust - Posted by Mark

Posted by Mark on December 18, 1998 at 10:53:18:

Can someone please give me a good definition of a Land Trust and how it is used in “Creative Financing”? Thanks in advance…


#3

Re: Good Definition Of A Land Trust - Posted by Brad Crouch

Posted by Brad Crouch on December 18, 1998 at 15:08:59:

Mark,

The way land trusts are used creatively by RE Investors is much too long to go into here.

I would suggest buying Bill Bronchick’s course, “Get That Property Out of Your Name”. You will learn about “privacy” & protecting your assets, and circumventing the “due on sale” clause found in most modern mortgages.

The necessary forms you would need to create these trusts on your own, are included on diskette.

Brad


#4

Re: Good Definition Of A Land Trust - Posted by Jimbob

Posted by Jimbob on December 18, 1998 at 14:17:10:

Mark,

Here’s a partial on what a Land Trust is, I suspect you’re looking for legal information, but here’s a general overview.

Land trusts:

Purchase land
Acquire land through donations
Secure conservation easements on land and monitor the terms of these easements
Work in partnership with private and governmental conservation agencies

Land trusts vary greatly in size. Over half are completely volunteer, others have only a director or one or more part-time staff members, a few have a large staff, prominent board of directors and a large membership. Annual budgets range from under $10,000 to over $1 million. 32% operate with budgets of $100,000 or more.

84% of all land trusts accept land donations. 75% accept conservation easements. In both instances donors can receive significant tax benefits based on the value of the donated land or easement.

63% of land trusts buy land for conservation. 70% of the funds for purchases come from contributions from members and individual donors in the community. Other finds come from government agencies, foundations, and corporations. Land trusts also borrow money from banks, foundations, and individuals to buy land. Loans are repaid either through fund raising, sales to conservation buyers or, in the case of advance acquisitions for local, state or federal conservation agencies, when public funds are available and the property is repurchased by the government.

Although independent, land trusts frequently work with each other, with national conservation organizations, and with government agencies on important projects.