Aug
06

Land Trust Successful Case Study

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Dyches Boddiford is coming to Greenville to teach a 2 day seminar on using land trusts.  Here is a good example of how one was used successfully:

An attorney, Lee Horner, tells a story of a law suit where a person was bit by a dog that was not even supposed to be on the rental property. The person hired an attorney to sue. Since the property was in a land trust, they were required to serve papers on the trustee. But the trustee could not be found since they were out of state. Of course, with no trustee to depose, they could not discover that the beneficiary was an LLC in a third state.

The plaintiff could still possibly use service by publication to get a judgment and then get the property.

But there was a loan on it by a company in a fourth state. After a while the frustrated attorney told their client to forget it and the suit was dropped.

This is just to show what can be done and your land trust does not need to be this involved…

On August 26 & 27, 2017, Dyches Boddiford will present a 2 day Seminar in Greenville on Using Trusts in Your Real Estate Business. Read More an register for this event at: UpstateCREIA.com/GreenvilleTrust

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