Home › Forums › General › EHTrust/EHT Topics and Creative Real Estate Financing › Could Proposed New Law KILL our business?
June 10, 2009 at 10:32 pm #29548
A brain ****:
You may want to print this out on a 3 x 5 card and hand it to your client, or email, whatever.
The Benefits of Land Trusts
Succession and Probate Avoidance ??? Under a land trust agreement, the party creating the trust can retain sole control over the property during his or her lifetime, with the provided for succession in ownership becoming effective upon death without the expense of going through probate proceedings. This can be especially helpful to those who live out of state but own real estate in this state. They will not have to institute separate probate court proceedings but can have the land trust property administered in their home state.
Owner protection ??? If the property in trust is owned by more than one individual, the title to the property may become faulty and unmerchantable because of death, legal disability, divorce, judgments and many other types of litigation affecting one of the co-owners. When the property is held in a land trust, a judgment against one of the beneficiaries does not automatically constitute a lien upon the real estate held in trust. Thus, a beneficiary is provided with an extra measure of protection against lawsuits.
Ease of conveyance ??? A land trust provides a convenient means of mortgaging and selling a trust property without having to obtain deeds from all of the beneficiaries and their spouses. This is especially helpful in situations where numerous parties have an ownership interest or the involved parties are living in different states.
Privacy of ownership ??? Under a land trust, unless required by law, the identity of the real owner is not disclosed to the public, keeping parties involved confidential. Our beneficiaries are always notified regarding inquiries about their property.
Disposing of part interest ??? The disposition of a partial interest in property may be advantageous for estate planning purposes. A land trust simplifies the common problem of disposing of a partial interest in a property since the beneficial interest under a land trust can be transferred by assignment. The assignment of the beneficial interest eliminates the necessity of a deed.
Good luck.June 11, 2009 at 2:44 pm #29549
Although, some of the opinions here are interesting, I agree political opinions should be left outside of this board.
We need to talk about getting sellers to accept our unconventional land trust offers, finding buyers that cannot get a good loan and finding investors to pay cash for properties that we have an exit plan for. That is all we should talk about here. Anything else is a waste of time and money.June 11, 2009 at 4:20 pm #29550
I have no problem with a “Political” discussion as long as it directly relates to the use of the NARS EHTrust and with some latitude the CRE business. We need to know and stay up with what BIG Sissy is up to. (oh, did I say that out loud, sorry).
Discussing how this or any legislation will affect us and our fellow CRE Investors is welcome.
However, Gary is correct, Paranoia Strikes Deep.
“Signs, signs, everywhere there’s signs”.June 12, 2009 at 1:16 pm #29551
As my old friend Janis said: “Freedom’s just another word for nothing left to lose”. Peace.June 12, 2009 at 10:56 pm #29552
OK, so shoot me. At first, I was only going to delete the offensive post that started the political thing, but it led to a chain of comments that had to be removed too because pretty soon the entire thread converted to something else (and Cork was going after it like a mongoose in a bucket of meal worms) . Much of the dialogue made sense and I agree with most of it, but it was completely out of place and off-base. Sorry.
If someone wants to discuss politics, this is not the forum for it. But if someone wants offer political insight into existing circumstances rather than complaining about them, that’s fine. But I will assure you that the US is not turning Fascist, and the world will not end in 2012…what ends in 2012 is the moratorium on lenders sending 1099-C’s for debt-relief on short sales and the real estate recession…that’s it.
When the doomsayers head for their caves I’m gonna go get their houses and sell them back to them when they re-emerge with their sheepish grins and buckets full of stashed-away gold.
Listen…I have no problem with political comments on the discussion group. I agree with Scott that as long as they relate to what we’re doing and are not obviously partisan or argumentative, they’re fine.
But remember that our mantra now is: We’re going to get rich BECAUSE of the current market and political-economic climate…not IN SPITE of it.
Let others figure out how to dodge and duck to avoid the problems while we FEED ON THEM.
The world hates change, yet it is the only thing that has ever brought progress. — Charles Kettering (Not Keating…that’s a different dude)
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