Aug
05

Common Questions About Land Trusts

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Common Questions on Land Trusts:

  1. Will transferring my property into the name of a trust trigger the “Due on Sale” clause: No, case law from 1982 forbids banks from doing so.
  2. Are the additional tax requirements: No, Trusts are transparent for tax purposes and do not require any additional documentation or paperwork
  3. Will they work in any jurisdiction? Yes, they work in all 50 states
  4. Where are the organizational documents that form the trust filed? No where. No public record of any kind
  5. Can lawyers and tenants find ownership? How???..the is nothing filed in public records

To read more about how trusts work and how they can benefit you, see article on the UpstateCREIA website at: http://upstatecreia.com/dychesEDU

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