Posted by Garrett Sutton on April 29, 2004 at 10:02:04:
Land trusts have their place but they don’t offer asset protection. To gain asset protection you need the beneficiary of the land trust to be a LLC or LP. Since you need such an entity anyway do you need a land trust? If privacy with asset protection is your goal a land trust owned by a LLC/LP can work. If you are only interested in asset protection the LLC or LP will work for you. Good luck, Garrett
Land Trust vs LP/LLC - Posted by KevinTEXAS
Posted by KevinTEXAS on April 28, 2004 at 08:55:30:
I have a small commercial property in a LP/LLC combo. Since I plan on holding this for long term the cost to set up and run them is ok with me. I am looking for a legal entity for small residental rehabs. Some will be held long term and some will be sold quickly. I want something that can be set up and run economically but still give me the propection I need. Is a Land Trust such a tool?