Discussion Forum

PM
consultant

Real Estate Land Trust Company

Tuesday, November 30 2010 09:55 PM

Hello,
I was exploring the following scenario and wanted to know if your course can help me achieve this:

1) A local entity will be registered in Texas - lets say ABC-LLC
2) Multiple investoers who will each invest in some residential real estate golf course lots (homesites), and will convey the title to ABC-LLC, but hold beneficial interests in their respective property

This is done for gaining cost savings in annual member dues, and property owner maintenance dues to the private golf club. All the dues are based on the ownership or Title, and there is volume discount for more lots held by a single entity

3) If the beneficial owner fails to pay the property taxes or other dues, then ABC-LLC will transfer back the title of their property to the beneficiary for avoiding incurring any liabilities related to this property

Questions
a) Can this type of transactions be done via the Texas Land Trusts by making ABC-LLC as the trustee and conveying the title in ABC-LLC name ?

b) Can ABC-LLC be the trustee for real estate lots owned by different beneficial owners?

c) Can a foreign national setup a Texas Land Trust, and have ABC-LLC as the trustee?

Thanks,
PM

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