Posted by Tony-VA on July 01, 2002 at 09:39:02:
The true question is Why would you want to?
The value of a Land Trust is to get your name off the public records. If you then replace your name on the public record as the Trustee, you have defeated the purpose.
Tony-VA
Land Trust question - Posted by Jason
Posted by Jason on July 01, 2002 at 08:57:50:
Can the trustee and the beneficiary be the same person in forming a land trust for residential property? What are the consequences??
Thanks!!
Re: Land Trust question - Posted by Long Beach Ed
Posted by Long Beach Ed on July 05, 2002 at 12:28:53:
Yes, the trustee and beneficiary can be one and the same. The only problem is that you, as the recorded trustee can be asked, “Do you have any rights in this property other than as trustee?”.
Since the trust agreement is not recorded, I suppose you can quietly assign the beneficial interest to anyone you wish if the going gets rough…
Ed