Land Trusts for Privacy & Profit: Using the ""Illinois-Type"" Land Trust in Other States

by Mark Warda

This book explains the uses and benefits of "Illinois-type" land trusts. It explains in detail all the steps from setting up to closing down a trust and includes 29 different legal forms. These include deeds, a trust, amendments to the trust, financing forms, tax forms and many more. It has an appendix which includes relevant statutes and court cases from all 50 states. Land trusts offer many benefits, such as keeping your real estate holdings private and avoiding probate. Here is a list of the benefits explained in the
Privacy
Avoiding Probate
Avoiding Ancillary Administration
Keeping Liens and Judgments off the Property
Avoiding Litigation
Ease of Control by Multiple Owners
Ease of Transferability of Interests
Ease of Changing Contingent Beneficiary
Simplification of Making Gifts
Ease of Foreclosure
Safer Lease/Option Agreements
Keeping Assessments Lower
Keeping Sales Price Secret
Avoiding Transfer Taxes
Limiting Liability
Improved Financial Statement
Ease of Negotiation
Avoiding Partition
Avoiding Personal Problems of Beneficiaries
Holding a Judge’s and Politicians’ Property
Ease of Property Management
Saving Title Insurance Premiums
Avoiding Real Estate Brokerage Laws
Avoiding Spouse’s Forced Share
Buying Foreclosures
Avoiding "Seasoning" Problems
Avoiding Tax Withholding

228 pages, Paperback

First published June 1, 2002