LAND TRUSTS - Posted by Dan(IN)

Posted by daveh on February 08, 2002 at 14:43:19:

I’ve put a couple properties into land trusts so I guess that makes me an “expert”.

Write up your trust agreement, get your trustee lined up. Write up a quit claim deed – you as grantor deeding to the “123 Main Street Trust”. Get both documents notarized. Send the quit claim in to the clerk of the court along with the recording fee. You’re done.

Make sure you pay your trustee the yearly fee (I pay $50 yearly on each property) so no one can claim the trust is a sham. Good luck.

LAND TRUSTS - Posted by Dan(IN)

Posted by Dan(IN) on February 06, 2002 at 19:09:08:

I have trust agreements and assignments of beneficial interests…etc., from a Ron LeGrand course. Mabye I’m making it too hard but how do I set up a trust? Does putting a property in a trust release you from liability on that loan? Sorry, I just want to make sure I do it right. Thanks in advance!