Fri, Jul 03, 2009
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Who Has A Land Trust Form? |
jpchapboy
192 Posts
Member Since: 03/14/2003
Salt Lake City, UT
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Posted: 18:37 on 01-13-2004
I need a land trust form and I can't find one. I have already looked all over the internet and not found one. Surely someone here has one. If you do, will you please send it to me? my email is **Please See My Profile**
Thank you so much.
Josh
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jpchapboy
192 Posts
Member Since: 03/14/2003
Salt Lake City, UT
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Posted: 20:38 on 01-13-2004
C'mon someone must have some information. Tell me how to do a land trust.
Josh
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JeffAdams
828 Posts
Member Since: 11/11/2003
Upland, CA
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Posted: 22:07 on 01-13-2004
Here you go JP:
There are several different ways to do a landtrust. I could sit here and write for days on the different types of revocable
and irrevocable land trust. I will just touch on the basics and hope this will help you.
If you want to put a house in a landtrust
this is what I recommend. When you buy a property have the seller grant you title to your trust. For example,
the seller will grant title to your trust as:
123 Main St. Trust Dated 01/13/03, John Doe Trustee. In the old days, we got away with not putting down who the trustee was. Now the title company or county recorders office will not take the grant deed unless you specify a trustee.
Next comes the Trust Agreement. This will be a irrevocable trust in which you the beneficiary is the only one who can modify it. This is a form you fill out and
put in a safe place. When you go to sell the property, the title company will ask for a copy and have you sign what is known as a "trust certification" as well as your trustee.
Another way you can do it is name yourself as the trustee and beneficiary.
This is what works best for me on properties that I am going to buy and
sell right away. I don't want to have to chase my trustee down to sign off to
sell my investment property. On long turn investments I have a family member I use as my trustee. If you want a copy of the trust I use, send me a PM and I will get you a copy.
Best Riches <IMG SRC="images/forum/smilies/icon_smile.gif">
[ Edited by Jeffca on Date 01/13/2004 ]
[ Edited by Jeffca on Date 01/13/2004 ]
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JohnMerchant
2046 Posts
Member Since: 04/23/2002
Tacoma, WA
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Posted: 16:07 on 01-14-2004
As has been said a few hundred thousand times on this site, there really is NO such thing as a separate legal entity called LAND TRUST.
If you'll just enter TRUST FORM into your search engine you'll find lots of free trust forms.
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JeffAdams
828 Posts
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Posted: 17:41 on 01-14-2004
You are absolutely right John!
The key is to just "muddy" the waters.
In the two or three hours a day that you work buying and selling property, how do you normally take title? Do you take title in your own name, in a land trust, in your
S-Corp or LLC? How about properties you keep for the long haul?
Best Riches
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Sunre
133 Posts
Member Since: 10/23/2003
Gulf Breeze, FL
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Posted: 17:48 on 01-14-2004
I have a warranty deed to trustee and a trust agreement. If you want to send, please pm me with your email address.
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JohnMerchant
2046 Posts
Member Since: 04/23/2002
Tacoma, WA
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Posted: 21:46 on 01-15-2004
Here's a website with FREE trust form that you could use anywhere.
http://www.ilrg.com/forms/trustrev.html
I printed out this trust form several days back and have read it, and it appears OK to use, when appropriate changes are made for an individual's personal situation.
Before drafting final one for one's own use, I'd recommend your going by county law library, in courthouse, and looking at form books there also, to see what other clauses and provisions you might want to add or use.
Law librarian will be glad to show you where the form books are and how to use same. Very simple to use.
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5sheets
2 Posts
Member Since: 03/13/2004
Phoenix, AZ
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Posted: 00:11 on 03-14-2004
what is better, revocable or irrevocable trust?
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