A land trust is an arrangement in which real property is entrusted to a person or entity, known as a trustee, to eliminate the legal burdens of owning or selling real estate. In effect, the owner’s real property (the land itself) is converted to personal property (beneficial ownership of the land). That way, it is treated like any other personal property, making it easier to handle.

How it works

A land trust is created by a person or legal entity capable of entering a contract, such as a corporation, partnership, or group of persons. In a land trust, the trustee holds the title to the property, but the owner (known as the beneficiary, since the legal owner is the trustee) has full control and enjoys all the benefits from the property.

For additional anonymity, we can provide the land trust Trustee with you still having full signing authority for any and all changes to the land trust.  Ask about this program when you speak with a consultant.

The beneficiary can do as he likes with the trust – add more property, terminate, transfer ownership – as if it were still in his name. This is because under the contract, they are still considered the owners. The trustee simply takes care of the legal processes, such as executing the deeds and mortgages. The trustee only acts as directed in writing by the beneficiary. That way, the trustee’s “ownership” of the property is strictly limited to the legal sense.

Benefits of a land trust

Under the terms of a land trust, the beneficiary’s interest is considered personal property. If the beneficiary wishes to transfer ownership, he or she only has to assign the interest and the trustee will take care of the rest. This is especially useful in transferring the property to the owner’s heirs. If the property is transferred after the owner’s death, retitling is often a long and costly process. By entering a land trust, the trustee only has to transfer the property to the heir’s name as necessary.

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