Posted by John Merchant on September 02, 2009 at 10:59:37:
Congress passed GStG some years back, making LTs completely legal and useful for RE conveyancing and holding…in every state, regardless of what the know-it-alls may declare.
Lots of websites on same so find, read and learn.
Also Bill Bronchik has written on the topic, (very well too)and I’d advise anybody so interested to find and read Bill’s thoughts on LTs.
Land Trusts have me completely freaked out! - Posted by Craig
Posted by Craig on September 02, 2009 at 07:40:33:
Ok, I’ve been doing short sales successfully with option contracts for the last year, but the seasoning issue is forcing me into land trusts. However, I have some serious reservations…
It seems this issue is as heavily debated as any religion. Some love them and say they’re completely legal, while others say they’re absolutely fraudulent and should be avoided like the swine flu.
What say you?
If you have experience using land trusts, what are the proper steps to take to CYA when flipping short sales?
Thanks in advance!
Craig