|
MDare
|
Land Trust vs. Single Purpose Trust
Saturday, December 12 2009 08:43 AM
Can you explain the difference between using a land Trust vs a Single Purpose trust for holding a piece of property?
Also, How would this pertain to the concept of what I believe they are calling a trust sandwich where a single purpose trust hold the property, the beneficiary is an entity(such as an LLC) which is in turn held in a trust (like a family trust)?
I have read both the Beginning and Advanced course and found them easy to understand.
Thanks
Morris Dare
REPLY
|
|
Randy Hughes
Land Trust Expert-40+ years of experience
|
Re:Land Trust vs. Single Purpose Trust
Wednesday, December 30 2009 02:45 PM
M. Dare,
SEE MY COMMENTS BELOW IN BOLD.
RANDY
Can you explain the difference between using a land Trust vs a Single Purpose trust for holding a piece of property? I AM NOT SURE WHAT YOU MEAN BY A "SINGLE PURPOSE TRUST." THERE ARE MANY DIFFERENT TYPES OF TRUSTS BUT THE LAND TRUST WAS DESIGNED TO HOLD REAL ESTATE AND REAL ESTATE RELATED ASSETS. WE ADVISE THAT YOU PUT EACH INDIVIDUAL PIECE OF PROPERTY INTO ITS OWN SEPARATE LAND TRUST (EFFECTIVELY CREATING A SINGLE PURPOSE TRUST).
Also, How would this pertain to the concept of what I believe they are calling a trust sandwich where a single purpose trust hold the property, the beneficiary is an entity(such as an LLC) which is in turn held in a trust (like a family trust)? YOU ARE DESCRIBING LINKING ENTITIES TOGETHER WITH THE LAND TRUST. WE ADVISE DOING THIS AND EXPLAIN IN DETAIL IN OUR HOME STUDY COURSES. THIS IS GOOD ASSET PROTECTION.
I have read both the Beginning and Advanced course and found them easy to understand. THANK YOU. WE TRY HARD TO MAKE IT UNDERSTANDABLE!
Randy Hughes
866-696-7347
REPLY
|
