I can almost title this Hyde and Seek depending on how you use land trusts.
I comment on this at http://www.creonline.com/wwwboard/messages/89657.html
Many folks use land trusts as a way of owning properties without 'really' owning it. In other words they use it as a Klingon would a cloaking device.
Basically Land Trusts are just a legal intrument that helps you control properties and at the same time limit your exposure to whatever is contained in the land trust.
BTW there are also so cool things that can be done within the land trust itself.
Remember however, that the land trust is not a cure all. Once people find out about the land trust the gig is pretty much up. You'll have to disclose stuff in court.
The thing to do is use it judiciously, limit the number of properties contained within it, and for your own sake's please seek the help of an attorney before setting one up for the first time.
If you need me to help point you in the right way, it would be my pleasure (as they say at the Chik fil place)
Dennis
I comment on this at http://www.creonline.com/wwwboard/messages/89657.html
Many folks use land trusts as a way of owning properties without 'really' owning it. In other words they use it as a Klingon would a cloaking device.
Basically Land Trusts are just a legal intrument that helps you control properties and at the same time limit your exposure to whatever is contained in the land trust.
BTW there are also so cool things that can be done within the land trust itself.
Remember however, that the land trust is not a cure all. Once people find out about the land trust the gig is pretty much up. You'll have to disclose stuff in court.
The thing to do is use it judiciously, limit the number of properties contained within it, and for your own sake's please seek the help of an attorney before setting one up for the first time.
If you need me to help point you in the right way, it would be my pleasure (as they say at the Chik fil place)
Dennis
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