Land trust is a powerful tool for holding title to real estate. It affords maximum privacy and protection. Lets discuss the various reasons to use land trust to use a land trust.
1. Privacy:
Nowadays, anyone can find the ownership of a property through internet. Most people wouldn't like others to know what they own. Entitling your real estate in land trust makes it difficult to find the owner since the record is not accessible to everyone.
2. Liens:
Your real estate will not subject to liens if you have entitled with a trust because your personal judgments will not attach to the property.
3. Title Claims:
Even if a lien is filed without your knowledge, you are subjected to title claims if there is a problem with the title. Whereas if you have a land trust in your place, it will protect you against various title claims.
4. Discouraging Litigation:
People tend to file case against others who have money. Even if you have a lot of properties and these are very hard to find you can reduce the possibilities of litigation against you in case of problems.
5. Making Contracts Assignable:
If you have entitled your property in a trust, without changing the title the beneficiary of the trust can be changed. This could be an advantage in case of a real estate which is non-assignable.
1. Privacy:
Nowadays, anyone can find the ownership of a property through internet. Most people wouldn't like others to know what they own. Entitling your real estate in land trust makes it difficult to find the owner since the record is not accessible to everyone.
2. Liens:
Your real estate will not subject to liens if you have entitled with a trust because your personal judgments will not attach to the property.
3. Title Claims:
Even if a lien is filed without your knowledge, you are subjected to title claims if there is a problem with the title. Whereas if you have a land trust in your place, it will protect you against various title claims.
4. Discouraging Litigation:
People tend to file case against others who have money. Even if you have a lot of properties and these are very hard to find you can reduce the possibilities of litigation against you in case of problems.
5. Making Contracts Assignable:
If you have entitled your property in a trust, without changing the title the beneficiary of the trust can be changed. This could be an advantage in case of a real estate which is non-assignable.
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