Reposting 2 questions about land trusts and deeds - Posted by Craig (IL)

Posted by William Bronchick on September 03, 2003 at 22:46:08:

The “prepared by” requirement you’ll have to look up - this may be state and/or county requirement. Sometimes, it is easier to simply put you dog’s name than to argue a rule with the “rulemakers.”

As for the deed issue, I can’t tell you without reading it what it is, but it IS WHAT IT IS, regardless of how you title it. So, if you called it, “Last Will and Testament” it would still be a deed.

Reposting 2 questions about land trusts and deeds - Posted by Craig (IL)

Posted by Craig (IL) on September 03, 2003 at 20:57:11:

Didn’t get any response earlier, so I’ll try again. I’d really like input:

My first question is about land trusts. I have studied land trusts and now write my own. I like the inexpense and the ability to word my trusts the way I want. I appreciate that I am in Illinois, the home of the land trust, and generally land trusts are as tight as a drum here. In a very public case here two years ago the State government spent a bundle in the courts trying to break through a trust barrier?they lost.

Nonetheless, my methods have not been tried in court yet. I’d like to find out her rather than get bad news after litigation some day. I don’t have a partner, and don’t intent to have one in the future. What I am doing is assigning my S-corporation as Trustee, with me, personally a Beneficiary. My corporation has a paperwork trail for this operation. One problem, maybe, is that my name is all over the recorded document. County recorders require (can they?) the name of a person, not a corporation as having written the document; my address is also listed as where to send tax bills, another requirement. I sign the recording document as ?trust officer (T.O.)?

My first question is would my trust this hold up in court? What protection do I have?

My second question concerns Special and Warranty deeds which I use when selling regarding the phrase: ?by from or under him, her, them or any of them? in the warranty clause. My training is that this makes a deed in effect a Special Warranty deed even if the document were titled ?Warranty Deed? I haven’t done this yet, but I am considering adding it to my Warranty Deeds when selling. Am I correct in my understanding of the clause? Additionally, am I doing anything devious? Illegal? What would be the effect in litigation?

Re: questions about land trusts and deeds - Posted by Thomas Standen

Posted by Thomas Standen on September 04, 2003 at 10:50:09:

Think you have a problem you have not thought about. Could the creation of a trust you refer to be considered practing law without a license?

If you are not an attorney, think you should check on this aspect to see if you have a lurking problem.

Thomas K. Standen
Equity Holding Corporation