Should Investors Use An Illinois Land Trust? Five Benefits of Using a Real Estate Land Trust to Hold Property Title Include…
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Illinois land trusts provide…
* privacy – Confidentiality and privacy of ownership is without a doubt one of the most important benefit of the Title Holding Trust or Land Trust – hides ownership, and creates an additional hurdle to find ownership, trusts are not public record, also keeps the purchase and sales price secret
These title-holding trusts ease…
* property transfers – Usually, Real estate owners are required to sign all of the necessary legal, financing and closing documents each time real estate is acquired, whether it is refinanced or sold. This process can be eliminated by acquiring and holding real estate in a Title Holding Trust or Land Trust. At that point, only the signature of the Trustee is required. Title is simply transferred to or from the Trustee upon the written authorization and direction of the beneficiary (owner).
Real estate land trusts provide…
* property protection – protects property against IRS liens & personal judgments on seller or buyer, see the beneficiary does not own the real estate, they own a beneficial interest in the Title Holding Trust or LandTrust, which is personal property rather than real property.
These investor trusts provide…
* personal protection – protects beneficiary personally against HOA claims and title claims
Equity-holding trusts help…
* prevent/reduce lawsuits – contingency attorneys search for significant assets, and reposition them LEGALLY before filing, so it appears that you are broke.
As you can see, there are numerous benefits to using a land trust for your real estate. Just make sure you understand the pros and cons for your individual situation and your specific state and that you use a knowledgeable attorney to make sure your real estate transactions are valid and legal. Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.