LAND TRUST FREQUENTLY ASKED QUESTIONSDo you have a question not listed here? Contact us with your question and not only will you receive prompt response, but we may also include it here for others to read. What is required to set up a land trust?A signed copy of the Trust Agreement and a Recorded Deed In Trust.Why do I have to pay an annual fee?The annual fee is charged much like a vault box or credit card fee. Even if you don't have any other activity, you still have the protection of having your property in a land trust.How can I hold the beneficial interest?Single – 100% interest; Various individuals having percentage interest, totaling 100%; as Trustee of a Living Trust; Joint Tenants; Multiple Owners; Tenants by the Entirety; Corporation; Partnership; LLC (Limited Liability Company).How do I take my property out of my land trust?A Direction to Convey must be filled out and signed by all people holding a beneficial interest in the trust, and any Collateral holders, if applicable. A Trustee's Deed will need to be prepared based on your direction. You or your attorney must record the Deed with the county. |
