Posted by c on August 30, 2003 at 13:05:13:
it is called a ‘land trust’ it is a vehicle for holding title to real estate. involves the creation of the trust with a name like ‘123 Myproperty address trust’ and the assignment of beneficial interest, this document will determine who owns how much of the property ie you 50% your wife 50% this last document goes in your safe the other one gets recorded, by the way the first document expects the designation of a trustee, could be anyone ie your father, father-in-law, sister, one of your children etc. preferably someone with a different last name than yours if you are interested in privacy. there are some sites on the web that can help. Lawyers usually charge thousands to set these up, but it may be worth to at least consult with one, especially if you own a lot of property and are also interested in setting up LLC, testamentary wills etc.
Look it up under ‘estate planning’, ‘asset protection’, ‘avoid probate’