Using Land Trust when buying on Land Contract?? - Posted by NateTyler

Posted by David Alexander on April 25, 2000 at 12:22:51:

My first guess is NO unless you can get the originally seller to deed the property to a trust and then there would be no point in the contract for deed. but, currently Your seller doesnt have anything to transfer into a trust.

I say that but also knowing that I guess you could set a trust to buy on Land Contract, but if that happens the Trust still only has an equitable interest.

I would look into discounting the original seller.

Hmmm, Interesting, after my beginning typing I realized maybe… Oh well you dont know what you dont know.

Good to see ya posting, we miss ya on the board

David Alexander

Using Land Trust when buying on Land Contract?? - Posted by NateTyler

Posted by NateTyler on April 25, 2000 at 12:05:41:

Hello friends:

I’m in the process of buying my first “keeper” investment property. Up until now, I’ve been strictly buying and selling through a corp.

I just set up a new LLC for holding this property, which is a 7 plex.

I’ll be buying it creatively with owner financing. The current owner is about 4 years into a land sale contract which I’ll be taking over.

I want to have the property titled in a Land Trust with the LLC as the beneficiary.

Can this be done since, as a buyer, you don’t actually get a deed? Would I just have the Trust be named on the contract for deed?

Thanks for any insight…


Yup you can. You shore can. Yup, yup, yup - Posted by Bill Gatten

Posted by Bill Gatten on April 26, 2000 at 20:35:38:


I’d sure suggest trying to do it the other way around (the easy way). The best thing to do may be to hold the property in a landtrust and do away with the contract for deed. The individual holding the contract would be better serged and safer too.

However… yes you could hold interest in a land sale contract in a land trust (any rela estate related asset…deeds, leases, options, etc.) It would, I prsume, be merely a matter of replacing the current “contractee’s” name with that of the trustee for your land turst. A bit convoluted, but another layer of protection perhaps.

Bill Gatten

Yes you may. - Posted by Rick V

Posted by Rick V on April 25, 2000 at 22:01:38:

Just show the trust as the buyer and have the trustee sign for the trust.