Posted by LTW on November 06, 2002 at 01:59:47:
Suggest you contact Bill Gatten at www.landtrust.net. He’s the best expert I’ve found on what you’re trying to do.
Lance T. Walker
www.letsdodeals.com
land trust question - Posted by jenny
Posted by jenny on November 04, 2002 at 13:07:08:
I have just finished reading a book on land trusts (Land Trusts in Florida) and am still unclear about a few things. I will be using the land trust to get around the non assignability clause that most banks are using. I plan to flip the properties by assigning the beneficial interest of the trust. My question is, do I (1) make the offer using my name as buyer and then set up the land trust prior to or at the closing, or (2) do I make the offer as xyz trust as buyer? If the latter, how do I sign the contract? Jenny Burna, trustee?
I have a few properties I would like to offer on, and I’m just not sure how to do this correctly, as the book did not explain this aspect.
Any help or clarification would be a great help!
Thanks,
Jenny Burna
Re: land trust question - Posted by DavidV
Posted by DavidV on November 07, 2002 at 24:10:39:
Not sure what the cost to set up an LLC in Florida is, but you might consider making the offer in an LLC…then sell the LLC to your buyer.