This is no way to be taken as legal advice as I am not an attorney, do not stay at hotels or inns and you should always get your legal advice from qualified lawyer.
Why would anyone want to use a Land Trust when buying real estate in Pensacola Florida or anywhere? I do quite a few divorce cases for local attorney’s that refer customers to me for a referral fee. One such case recently where the husband and wife fought for eight years trying to settle a life that had taken thirty three years to build, guess when the case was finally settled “when both parties could no longer pay their attorney’s”. Life savings for both parties GONE, what a waste. But the real estate side could have been saved had one or the other probably had a Land Trust.
My experience has been where the property was subject to judgments of the individual and a Land Trust would allow such individual to buy and sell without the judgements being attached, works good for Lease options or rent to owns. In the case above if one of the parties had a land trust that party would not have been forced to sell in the divorce. Closing cost is much less and in some case can be avoided altogether. No taxes returns to be filed per se since it would pass thru.
One of the best IMHO is it is easier to use owner financing technique as you sell the trust and the property is just included, not triggering the due on sale clause.
As you can see, Land Trusts can be used to protect your assets, avoid real estate tax increases, privatize your sales transactions, avoid probate and use for many other benefits. Now that you have the BASICS understanding of the ins and outs consult an Attorney or do your own research to see how a Land Trust may benefit you. Why would anyone want to use a Land Trust when buying real estate in Pensacola Florida or anywhere?
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Charles Stallions, CRS, CSP, CBR, CDPS, SREE, EREI - 800-309-3414
Charles is a Real Estate Investor of 25 years, a Real Estate Broker for 15 years while holding several degrees in management, an expert in the buying and selling of real estate. Whether you’re buying your first home, second home, vacation home, investing in rentals, a kiddie condo for college or your dream home, buying any home is an investment in the future and you owe it to yourself to have Charles’s expertise to buy right and make the right decisions for YOU. For over the phone evaluation and NO Obligation CALL NOW! you have OPTIONS, we have FACTS, let’s TALK