Great videos. Questions. 1. Should one buy with an LLC and then put it in a land trust? Or buy in a land trust and then put it in llc? 2. If I buy with a land trust and have the llc as the trustee, can one use the checking account of the llc to close? Or does it have to be the land trusts checking account or ones own? 3. The trustee llc, could there be a problem if one uses a wyoming llc as trustee to purchase with a land trust in another state? Would one have to create an llc owned by the wy llc in that state? Thanks. Highly considering you guys.
1. Buy with an LLC if you can - one less entity to deal with. That being said, in some instances, you may want to use a land trust. 2. For closing it does not matter where the funds originate from. 3. The WY trustee LLC does not cause a complication in my experience.
You should make a video where if you new everything you know now an went back to age 18 how you would start an get the ball rolling, I’m 18 an really wanna real estate invest but not 100% how to start be sides finding a house an renovating it.
If I were to acquire a property via subject to the existing loan in place, can you please explain how to put the property in a land trust and who to list as a trustee and beneficiary?
Clint, can "Big Profit LLC" be both the trustee and the beneficiary of the land trust, so that I don't need to create two LLCs and pay double fees? Thanks.
Clint: Should the LLC be "Disregarded" and Would the Manager (myself) also be the Member or should the Member be a different entity that I own (Corp or LLC?
CLint , I'm working on a deal for cash, no title company and no lien holder involved. The deed is titled as a land trust, and I'll be setting up a land trust to buy it. Would I be the trustee to sign contract and deed? Or can I do the deal as beneficiary? Thanks for all your introduction videos on land trusts! Also should I ask to see the current land trust from the seller, or will the notary need to see it?
This will depend on the language in your land trustee I.e., who is authorized to purchase real estate and what the title company requires to close. Generally speaking, the title company will want the trustee to sign. Remember, you are not signing the deed because your are purchasing the property. If you want anonymity then you should consider using a WY LLC as the trustee of your land trust.
How do you go about getting a HELOC with a LAND Trust or a Mortgage. Currently I have property in a S Corp which was setup incorrectly. Since it a rental would like to move it out of Corp into Land Trust with a LLC as beneficiary.
Yes this can be challenging. The best case would be to remove the property for refinancing then put I back into the S-Corp. It will be difficult to get a HELOC on a residential property held in either a land trust or corporation. But, before you do anything check with your lender. Some community banks will allow you to refi property held in an entity.
Clint, with you listed as beneficiary of the Land Trust does that expose you to any personal liability if the property were being rehabbed and an accident were to happen? Would it make any more sense to use an LLC as the beneficiary to minimize personal liability? Thank you for all the informative videos!
Great explanation, thanks. What is the reason that most nominee trustees wouldn't agree to sign off on debt (as you say at 2:16)? Are there potential liability concerns for the trustee?
Typically if you want to be a licensed trustee company you will need to apply to the state where the entity is established. Most require you have a minimum of 500k in the bank in order to qualify.
Sometimes questions unknown become known upon listening. Another beneficial video. My question is: If the llc isnt licensed, yet I set it up as a trustee , with or without an attorney (sorry dont know), isnt that fraud on my behalf and what could happen? Plus when I sell, seams like asking for real deep priblems? I await your kind reply.
I think you are asking me if you are committing fraud on yourself. Do you plan to sue yourself? :). No this is not fraud. The trustee makes no compensation and your are the beneficiary.
Denis - it would be best to set up a strategy session. You can do so here: andersonadvisors.com/30minute... I am not trying to avoid the question (typically $2,000 plus filing fees) but you should really get an overall plan. The one thing I tell real estate investors who attend my workshops is this is not a one size fits all strategy. Every person should analyze their investing based upon 3 factors - taxes, asset protection, and business planning.
Clint, great info as always. Let's say I want to invest in Tax Liens in different states, assume that in the future I have to foreclose on the tax liens to get the Deed to the properties which, as I said may be located in different states, what structure do you suggest? What structure would you suggest if I buy Tax Deeds in different states? Finally, let's assume that I do the above investing via my SDIRA-Owned Nevada LLC your team helped me with, how should I proceed to be protected for liability but still have legal standing in each state; keep in mind that anonymity may not be an issue for me at this time.
Hi, thanks for this content. Can you refer me to a video that deals with single (non-married) land investors and how to best set up a trust for a house that the investor plans to live in?
Hello Clint, I own a rental single-family house in Los Angeles which owns by my land trust name. The beneficially of land trust is my CA single member LLC. Single-family homes and condominiums are only exempt from AB 1482 if BOTH of the following conditions apply: The property is not owned by one of the following: a real estate trust, a corporation, or an LLC with at least one corporate member. Am I exempt from AB 1482 or not?
Land trust trustee in Wash DC, you mentioned the LLC or corp need to be licensed to serve as trustee -question:- does that mean co. Is licensed to do general business in DC or co need to be a real estate brokerage corporation or legal license?
Hey Clint I am a platinum member...My qurstion is do you have to use your Wyoming holding LLC? Couldnt u use one of your single member LLC with the state u buying the property in?
If one uses a trust for a California rental property with a manager-managed Wyoming LLC as the trustee to ensure anonymity, must the beneficiary be a California LLC to ensure asset protection? If so, should the California LLC be manager-managed or member-managed to ensure anonymity?
Yes you will want the beneficiary of your land trust to be an LLC. Wether it is CA or WY will depend on several factors. If you elect CA and want anonymity then you will need to set it up as member managed by a WY LLC.
Great information. I was wondering can a Land Trust also buy property in another country? I'm American and I live in Belgium, and I would like to start a Land Trust to buy Property in Belgium.
@@taneshawalker Not sure if you are referring to a personal property trust when you write "Property Trust". If so just a few differences otherwise I assume it's the same.
@@ClintCoons a living trust created right before buying a residential house would work as well as a land trust? The beneficiaries are able to assign their interest over to a WY llc? Thank you! Your time is highly appreciated.
How would someone sign the actual property purchase paperwork as manager of the WY LLC trustee of trust? Manager's name or LLC name? Regular autograph, comma, "Manager of 123 LLC, Trustee of XYZ Trust"? An example would help?
When investor want to buy out a limited partner who want to be bought out, can a Land Trust be the buyer of the Limited Partners’ interest in the limited partnership? Thank you!
Hello, I have a property which owns by my land trust and the beneficially of land trust is my LLC, now if i want my kids to be part of this property, i guess iI need to change the land trust RIGHT? If yes do i need to record the revised land trust?
@@ClintCoons How about when the property which I owns by my land trust and the beneficially is my name, How can my kids can get control on it if something happens to me?
If you buy in an LLC directly, does it legally need to be licensed as well? Could that same discrediting argument be used on a non licensed WY LLC taking title directly?
@@ClintCoons you mentioned the LLC needs to be licensed to legally be used as the trustee. If not and you go to court, they can try to discredit you by saying it's not licensed. In another scenario, if you're buying straight into an LLC (no Trust involved) would the same argument apply (discrediting if the LLC is not licensed)? Or is this only specific to using the LLC as trustee?
Can you have multiple members under the Wyoming or Delaware LLC? My friends are starting a real estate investment group and I was educating them on the benefits on setting up a land trust with an LLC as the beneficiary and buying property through the trust. So I wanted to know if we should all be listed as managers under the LLC or should we be listed under the trust as beneficiaries.
Real Estate Asset Protection Thank you so much for your prompt response. For clarity, we would have a Wyoming shell LLC with our names as both managers and members. The Wyoming shell LLC would be listed as beneficiary and trustee on the Land Trust. Under the land trust we can either purchase properties through the form of other LLCs or we purchase properties directly through the Land Trust without the need of forming other LLCs? From my understanding forming a new LLC for each property is added protection for the Trust and protecting our identities. Did I get all of this correct?
Could the WY LLC act as Trustee as well as serve as the Holding Company of the Beneficiary LLC, or would that be considered commingling business and allow someone to pierce the veil?
Would you put yourself on the LLC as the managing member or would you own a different company such as a C Corp to own that LLC that then owns the land trust? I am just trying to see how you keep anonymity if your are the owner of the LLC because if that LLC owns the land trust, someone still knows who owns the LLC- then there is no anonymity. When you are setting up an LLC from say Wyoming how would you not use your name as being registered on the state board for that company?
I have a living trust with my name as the title. My 5 houses in California are in my living trust (not a land trust). I never had problems when I represent myself in court (for eviction) or refinancing my homes. I never understood how LLCs can be a part of what I do. I have been limited to 5 mortgages with many mortgage companies I use to finance real estate. Does LLCs create an 'unlimited' amount of houses I can buy with financing?
As to that asterisk issue you raised: has anyone succeeded in rasing such issue? If I wanted to use an LLC as Trustee, what can be done to mitigate that risk?
hi clint, in the process of acquiring a property from REO and would like to use the process you've outlined here. I'd be the wholesaler picking up the land looking to assign it to my buyer using the process you've outlined in this video. Would this work?
@@ClintCoons what if you don't have Special POA, and you just sign with your name as a manager - where can it potentally publically appear/be recorded?
Can investor purchase limited partnership interest or. Interest in LLC with a land trust? Can a limited partnership or member of a LLC have the part owners limited partners interest be in land trust?
You can won anything with a land trust but the question is why? In your example you I would use a living trust or a WY LLC as the limited partner not a land trust.
Manager managed but keep in mind that in Wyoming it does not matter if the entity is manager managed or member managed because Wyoming does not list any information. Also do not use your personal address as the business address for the Wyoming LLC otherwise you will defeat the purpose.
How will the County know the difference between a sale into the new owner's Land Trust vs. a title transfer from the current owner to his own Land Trust?
I'm confused about something... If I'm going to do a mortgage in a trust, wouldn't they have my credit pulled? (So wouldn't it still shows I own property?) When I transfer it to the LLC, do i transfer the debt to the LLC? I guess I'm confused there...
Well, at least you are disclosing that it could still cause problems if you get sued by someone using a pit bull of a lawyer. Full disclosure is always best. Question - are people in Pennsylvania able to use a land trust?
@@sviatayavoda Sign on the PSA, deal with 3rd parties, etc. If you are using a nominee trustee then he will resign and you will take over after the trust is set up
Popular Question about tax savings: Using the method going from * land/property you own in your name to --> land trust, with LLC(NV) businessdeductibleproperty with this method, the same way one would if the property/land was paid outright with an LLC?
@@ClintCoons I meant selling real estate as a land trust. In my experience it’s difficult to get to title insurance for a transaction where the seller holds title as a land trust. Almost every title co in California has a problem with this depending on how the trust agreement is worded and how many beneficiaries there are.
@@thetitlebeat Correct. We typically restate the trust for our clients to conform it to what the title company desires. It is just another hoop they make you jump through for no apparent reason. Chicago title pulled the same stunt on one of my clients. Chicago stated they do not recognize land trusts. I showed them on their website where they had a form for download to use land trusts and literature actually promoting their use. Chicago title refused to acknowledge the trust. Go figure.
Can the LLC you've set up to be the trustee for the land trust also be the Manager Managed holding company of the Member Managed LLC which you want to eventually transfer the real estate into?
@@ClintCoons Thanks! I just signed up for a free consultation. I have a group of friends who want to start purchasing real estate and need some insights. Your videos have been the best I've seen on UA-cam regarding the subject.
Would you like to learn more about this topic and talk to someone? Schedule a free consultation here: aba.link/mky
You could also set up a PTC private Trust company to act as trustee in all your land trusts
Great videos. Questions.
1. Should one buy with an LLC and then put it in a land trust? Or buy in a land trust and then put it in llc?
2. If I buy with a land trust and have the llc as the trustee, can one use the checking account of the llc to close? Or does it have to be the land trusts checking account or ones own?
3. The trustee llc, could there be a problem if one uses a wyoming llc as trustee to purchase with a land trust in another state? Would one have to create an llc owned by the wy llc in that state?
Thanks. Highly considering you guys.
1. Buy with an LLC if you can - one less entity to deal with. That being said, in some instances, you may want to use a land trust.
2. For closing it does not matter where the funds originate from.
3. The WY trustee LLC does not cause a complication in my experience.
You should make a video where if you new everything you know now an went back to age 18 how you would start an get the ball rolling, I’m 18 an really wanna real estate invest but not 100% how to start be sides finding a house an renovating it.
Search Robert Kiyosaki and read his books.He also has a program that trains people.
Thank you so much for your great content.
If I were to acquire a property via subject to the existing loan in place, can you please explain how to put the property in a land trust and who to list as a trustee and beneficiary?
If Manager signs papers as you suggest, then the anonimity is lost as the name will be listed on title papers?
You wont have anonymity with a seller. The anonymity I refer to is on title.
Clint, can "Big Profit LLC" be both the trustee and the beneficiary of the land trust, so that I don't need to create two LLCs and pay double fees? Thanks.
Yes but if you are setting up multiple land trusts you may want to have a separate trustee.
@@ClintCoons Thank you.
When you buy real estate under the land trust, where and who will get the property tax bill?
Either the beneficiary LLC or the land trust.
Clint: Should the LLC be "Disregarded" and Would the Manager (myself) also be the Member or should the Member be a different entity that I own (Corp or LLC?
Depends on what you are planning for the property. Best to contact us to discuss in detail.
As a beneficiary to the trust (and LLC) do you HAVE to put your full name on the document as beneficiary?
Yes but the trust is not a public document so no one will know.
CLint , I'm working on a deal for cash, no title company and no lien holder involved. The deed is titled as a land trust, and I'll be setting up a land trust to buy it. Would I be the trustee to sign contract and deed? Or can I do the deal as beneficiary? Thanks for all your introduction videos on land trusts! Also should I ask to see the current land trust from the seller, or will the notary need to see it?
This will depend on the language in your land trustee I.e., who is authorized to purchase real estate and what the title company requires to close. Generally speaking, the title company will want the trustee to sign. Remember, you are not signing the deed because your are purchasing the property. If you want anonymity then you should consider using a WY LLC as the trustee of your land trust.
How do you go about getting a HELOC with a LAND Trust or a Mortgage. Currently I have property in a S Corp which was setup incorrectly. Since it a rental would like to move it out of Corp into Land Trust with a LLC as beneficiary.
Yes this can be challenging. The best case would be to remove the property for refinancing then put I back into the S-Corp. It will be difficult to get a HELOC on a residential property held in either a land trust or corporation. But, before you do anything check with your lender. Some community banks will allow you to refi property held in an entity.
Clint, with you listed as beneficiary of the Land Trust does that expose you to any personal liability if the property were being rehabbed and an accident were to happen? Would it make any more sense to use an LLC as the beneficiary to minimize personal liability? Thank you for all the informative videos!
Correct you want an LLC to be the beneficiary because the land trust does not offer asset protection
@@ClintCoons So use two WY LLC. One as Trustee, one as Beneficiary??
Great explanation, thanks.
What is the reason that most nominee trustees wouldn't agree to sign off on debt (as you say at 2:16)? Are there potential liability concerns for the trustee?
Signing off on a loan is confusing for some because they might think it means they have personal liability.
For a Wyoming LLC to be trustee what does it take “to be registered?” Thank you! For all your educational presentations!
No it does not.
What kind of license do you need, and how would you go about getting it?
Typically if you want to be a licensed trustee company you will need to apply to the state where the entity is established. Most require you have a minimum of 500k in the bank in order to qualify.
Sometimes questions unknown become known upon listening. Another beneficial video. My question is: If the llc isnt licensed, yet I set it up as a trustee , with or without an attorney (sorry dont know), isnt that fraud on my behalf and what could happen? Plus when I sell, seams like asking for real deep priblems? I await your kind reply.
I think you are asking me if you are committing fraud on yourself. Do you plan to sue yourself? :). No this is not fraud. The trustee makes no compensation and your are the beneficiary.
Hello Howe much do you charge to set up all this the land trust and the LLC?
Denis - it would be best to set up a strategy session. You can do so here: andersonadvisors.com/30minute...
I am not trying to avoid the question (typically $2,000 plus filing fees) but you should really get an overall plan. The one thing I tell real estate investors who attend my workshops is this is not a one size fits all strategy. Every person should analyze their investing based upon 3 factors - taxes, asset protection, and business planning.
Clint, great info as always. Let's say I want to invest in Tax Liens in different states, assume that in the future I have to foreclose on the tax liens to get the Deed to the properties which, as I said may be located in different states, what structure do you suggest? What structure would you suggest if I buy Tax Deeds in different states? Finally, let's assume that I do the above investing via my SDIRA-Owned Nevada LLC your team helped me with, how should I proceed to be protected for liability but still have legal standing in each state; keep in mind that anonymity may not be an issue for me at this time.
Have you watched this video: ua-cam.com/video/-bQC4A-BD20/v-deo.html
Hi, thanks for this content. Can you refer me to a video that deals with single (non-married) land investors and how to best set up a trust for a house that the investor plans to live in?
I do not have anything that specific on my channel. Did you see this video. ua-cam.com/video/N4UjEL9fBdQ/v-deo.html
Hello Clint,
I own a rental single-family house in Los Angeles which owns by my land trust name. The beneficially of land trust is my CA single member LLC.
Single-family homes and condominiums are only exempt from AB 1482 if BOTH of the following conditions apply: The property is not owned by one of the following: a real estate trust, a corporation, or an LLC with at least one corporate member.
Am I exempt from AB 1482 or not?
My understanding is you are exempt, provided a corporation does not hold an interest in your LLC.
Land trust trustee in Wash DC, you mentioned the LLC or corp need to be licensed to serve as trustee -question:- does that mean co. Is licensed to do general business in DC or co need to be a real estate brokerage corporation or legal license?
You can use a WY LLC as the trustee and make sure the Trustee does not receive any compensation for services rendered as a trustee.
Hey Clint I am a platinum member...My qurstion is do you have to use your Wyoming holding LLC? Couldnt u use one of your single member LLC with the state u buying the property in?
Yes you can.
Do we list ourself as beneficiary or the land trust?
Initially then assign to the LLC
Loved this
Thanks
If one uses a trust for a California rental property with a manager-managed Wyoming LLC as the trustee to ensure anonymity, must the beneficiary be a California LLC to ensure asset protection? If so, should the California LLC be manager-managed or member-managed to ensure anonymity?
Yes you will want the beneficiary of your land trust to be an LLC. Wether it is CA or WY will depend on several factors. If you elect CA and want anonymity then you will need to set it up as member managed by a WY LLC.
Who is the grantor in all of this? Is it the holding company?
Holding Company Grantor
WY LLC Trustee
Operating LLC Beneficiary?
The LLC
Great information. I was wondering can a Land Trust also buy property in another country? I'm American and I live in Belgium, and I would like to start a Land Trust to buy Property in Belgium.
I do not know if it would be recognized in another country.
@@ClintCoonsI see, Thanks for the info. Is there a difference between Property trust and Land Trust?
@@taneshawalker Not sure if you are referring to a personal property trust when you write "Property Trust". If so just a few differences otherwise I assume it's the same.
@@ClintCoons ok, Thanks, I'll do more research on this subject. Thanks
@@ClintCoons a living trust created right before buying a residential house would work as well as a land trust? The beneficiaries are able to assign their interest over to a WY llc? Thank you!
Your time is highly appreciated.
How would someone sign the actual property purchase paperwork as manager of the WY LLC trustee of trust? Manager's name or LLC name? Regular autograph, comma, "Manager of 123 LLC, Trustee of XYZ Trust"? An example would help?
If the LLC is the trustee then you would sign on behalf of the LLC as its manager, trustee of the land trust.
When investor want to buy out a limited partner who want to be bought out, can a Land Trust be the buyer of the Limited Partners’ interest in the limited partnership? Thank you!
Yes but I would probably use an LLC.
Hello,
I have a property which owns by my land trust and the beneficially of land trust is my LLC, now if i want my kids to be part of this property, i guess iI need to change the land trust RIGHT? If yes do i need to record the revised land trust?
No you do not need to record the land trust. You might consider making them members of the LLC in lieu of the land trust.
@@ClintCoons
How about when the property which I owns by my land trust and the beneficially is my name, How can my kids can get control on it if something happens to me?
Question Clint, You said," set up a Wyoming LLC". Did you mean to set at a LLC in Wyoming? but I am in California.
Yes an LLC set up in WY.
ok Clint...Nevada or Wyoming? First its NV then at the end you mention WY...you are making me nervous 😂
I prefer WY, DE, then NV.
If you buy in an LLC directly, does it legally need to be licensed as well? Could that same discrediting argument be used on a non licensed WY LLC taking title directly?
What do you mean by "legally licensed"?
@@ClintCoons you mentioned the LLC needs to be licensed to legally be used as the trustee. If not and you go to court, they can try to discredit you by saying it's not licensed. In another scenario, if you're buying straight into an LLC (no Trust involved) would the same argument apply (discrediting if the LLC is not licensed)? Or is this only specific to using the LLC as trustee?
@@AberrantArt Only an issue when you are compensating the trustee of your own trusts.
@@TobyMathis thank you for the clarification. 👍
Can you have multiple members under the Wyoming or Delaware LLC?
My friends are starting a real estate investment group and I was educating them on the benefits on setting up a land trust with an LLC as the beneficiary and buying property through the trust. So I wanted to know if we should all be listed as managers under the LLC or should we be listed under the trust as beneficiaries.
You and your friends would be both members and managers of the LLC
Real Estate Asset Protection Thank you so much for your prompt response. For clarity, we would have a Wyoming shell LLC with our names as both managers and members. The Wyoming shell LLC would be listed as beneficiary and trustee on the Land Trust. Under the land trust we can either purchase properties through the form of other LLCs or we purchase properties directly through the Land Trust without the need of forming other LLCs?
From my understanding forming a new LLC for each property is added protection for the Trust and protecting our identities.
Did I get all of this correct?
Could the WY LLC act as Trustee as well as serve as the Holding Company of the Beneficiary LLC, or would that be considered commingling business and allow someone to pierce the veil?
Correct. You should never use the holding LLC to engage in any activity other than holding your LLCs.
Would that LLC need to be set up as a S corp, C corp , or be disregarded for tax purposes?
No a disregarded LLC is an LLC with a single owner and it makes an affirmative election to be disregarded with the IRS
Would you put yourself on the LLC as the managing member or would you own a different company such as a C Corp to own that LLC that then owns the land trust? I am just trying to see how you keep anonymity if your are the owner of the LLC because if that LLC owns the land trust, someone still knows who owns the LLC- then there is no anonymity. When you are setting up an LLC from say Wyoming how would you not use your name as being registered on the state board for that company?
@@doityourselfjim7368 You have the LLC owned by a WY LLC to protect your association with the land trust LLC.
How should I do it if I want to assign the property to an end buyer?
You complete an assignment of beneficial interest
I have a living trust with my name as the title. My 5 houses in California are in my living trust (not a land trust). I never had problems when I represent myself in court (for eviction) or refinancing my homes. I never understood how LLCs can be a part of what I do. I have been limited to 5 mortgages with many mortgage companies I use to finance real estate. Does LLCs create an 'unlimited' amount of houses I can buy with financing?
Unfortunately no. Look to work with a community lender.
As to that asterisk issue you raised: has anyone succeeded in rasing such issue?
If I wanted to use an LLC as Trustee, what can be done to mitigate that risk?
Not that I know of and you can't mitigate the risk.
hi clint, in the process of acquiring a property from REO and would like to use the process you've outlined here. I'd be the wholesaler picking up the land looking to assign it to my buyer using the process you've outlined in this video. Would this work?
Yes. We have a Wholesale Trust kit that is designed for these types of transactions.
Real Estate Asset Protection ok. Where can I find this kit?
If you're the manager that signs off on deal your identity will be exposed right?
No because the grantee does not sign the deed only the grantor.
@Arielle B Yes than does work if you clear it with title ahead of time.
@@ClintCoons what if you don't have Special POA, and you just sign with your name as a manager - where can it potentally publically appear/be recorded?
Can investor purchase limited partnership interest or. Interest in LLC with a land trust? Can a limited partnership or member of a LLC have the part owners limited partners interest be in land trust?
You can won anything with a land trust but the question is why? In your example you I would use a living trust or a WY LLC as the limited partner not a land trust.
Does the land trust have to be Wyoming based?
No it does not
If one wants to form a Wyoming LLC to use as the trustee, should he form a Member Managed or Manager Managed LLC to ensure anonymity?
Manager managed but keep in mind that in Wyoming it does not matter if the entity is manager managed or member managed because Wyoming does not list any information. Also do not use your personal address as the business address for the Wyoming LLC otherwise you will defeat the purpose.
I was going to buy a land that has a family trust but I can see that is to complicate 😮
Thanks
Welcome
What's the typical cost to pay someone to be the Nominee trustee?
$750
@@ClintCoons Hi! Is that a one time fee or a yearly fee? Thank you!
Won’t the Wyoming LLC have a tax nexus in the land location state?
No because it is not conducting business in the state.
For California owners (we have Prop 13), will buying in the name of the Trust cause a tax reassessment?
Yes if you are purchasing property.
How will the County know the difference between a sale into the new owner's Land Trust vs. a title transfer from the current owner to his own Land Trust?
Does this also apply to interest in an existing Limited partnership?
Which part?
I didnt recognize you without the suit...
The studio gets hot and when I am cutting several videos at one time I start to sweat through the suit. Decided to go lighter on the recent series.
I'm confused about something... If I'm going to do a mortgage in a trust, wouldn't they have my credit pulled? (So wouldn't it still shows I own property?) When I transfer it to the LLC, do i transfer the debt to the LLC? I guess I'm confused there...
Yes your credit will be pulled. When you transfer the trust to the LLC the debt does not transfer. You remain liable on the note.
Well, at least you are disclosing that it could still cause problems if you get sued by someone using a pit bull of a lawyer. Full disclosure is always best. Question - are people in Pennsylvania able to use a land trust?
Yes you can if you are purchasing the property in a land trust.
Is there an equivalent for this for cars?
Personal property trust
how to buy claim a land or claim property on birth certificate number via Cestui?
?
I need a nominee trustee soon. I would like to utilize your organization for that. Can you give me the appropriate contact information?
Reach out to carter.coons@andersonadvisors.com
Title is in name of trust or llc
trust
Who will be the trustee if you don't have a LLC?
An attorney or someone you absolutely trust
@@ClintCoons what kind of things would that person (trustee) have to do? Sign/review something? How much time would it take to be a trustee?
@@sviatayavoda Sign on the PSA, deal with 3rd parties, etc. If you are using a nominee trustee then he will resign and you will take over after the trust is set up
Popular Question about tax savings:
Using the method going from
* land/property you own in your name to --> land trust, with LLC(NV)
businessdeductibleproperty with this method, the same way one would if the property/land was paid outright with an LLC?
Replied to your same question in the land trust video comments.
Can you make yourself the trustee?
You can but then you will lose anonymity unless you become the trustee after the nominee trustee resigns
Do you ever have an issue when selling as a land trust and getting title insurance?
Yes if you are selling the trust it could be a problem.
@@ClintCoons I meant selling real estate as a land trust. In my experience it’s difficult to get to title insurance for a transaction where the seller holds title as a land trust. Almost every title co in California has a problem with this depending on how the trust agreement is worded and how many beneficiaries there are.
@@thetitlebeat Correct. We typically restate the trust for our clients to conform it to what the title company desires. It is just another hoop they make you jump through for no apparent reason. Chicago title pulled the same stunt on one of my clients. Chicago stated they do not recognize land trusts. I showed them on their website where they had a form for download to use land trusts and literature actually promoting their use. Chicago title refused to acknowledge the trust. Go figure.
Oh you're the same guy without a suit
:)
Can the LLC you've set up to be the trustee for the land trust also be the Manager Managed holding company of the Member Managed LLC which you want to eventually transfer the real estate into?
I would keep them separate
@@ClintCoons Thanks! I just signed up for a free consultation. I have a group of friends who want to start purchasing real estate and need some insights. Your videos have been the best I've seen on UA-cam regarding the subject.