Get Land Trust Form

Once you find a trusted friend or family member, you then see a land trust attorney who will draw up a contract that states what is happening and the rights of both parties, you and your land trust. Once you both look over the property trust document and you both sign it, you then need to record the trustee deed.

To put a property into a land trust, there are two legal documents involved. The trust itself. The land trust typically names the trustee, who is in charge of the trust. ... This is also usually the one who places the assets inside of the trust.

Trust law in Texas falls under the Property Code while the law of business entities (LLCs and corporations) falls under the Business Organizations Code. Trusts can hold property, of course, but there is no liability barrier against lawsuits as with registered entities formed under the BOC.

There are only six states that have an actual Land Trust statute (or case law recognition) and they are; Illinois, Indiana, South Dakota, Florida, Virginia and Hawaii.

Before you start with the documents, first you need to decide the name you are going to be using for your properties. Once you find a trusted friend or family member, you then see a land trust attorney who will draw up a contract that states what is happening and the rights of both parties, you and your land trust.

A land trust is created by signing a trust agreement between you and a Trustee who will manage the trust property. After the trust agreement is signed, you then transfer your property, by deed, to the trust and record it at the county clerk and recorder's office.

With many a choice of set-up options varying in price, costs for a suitable land trust service will usually set you back somewhere around $300 to $500.

A land trust ordinarily continues for a definite term, such as twenty (20) years. If the beneficiary does not extend the trust term when it expires, the trustee is usually obligated to sell the real estate and return the net proceeds to the beneficiary.

A land trust is a private agreement, where one party, the trustee, agrees to hold title to property for the benefit of another party or parties, the beneficiary(ies). The one who establishes the trust is the settlor or grantor.