Rental properties in 1 land trust or their own! - Posted by Dave (Ar)

Real Estate Investing Real Estate Law
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Posted by dutch on May 07, 2006 at 12:13:45:

Each of my properties is in it’s own trust, with a trustee and a beneficiary.

If you get sued, and they start attacking stuff you “own”, it would cost more and be harder to bust every trust as opposed to just one. Mix up your trustees and it’s even harder to track down what you “own”.

remember, land trusts are just the first thin layer of a bigger asset protection plan. nothing more, nothing less.

Just my 2 cents, NOT LEGAL ADIVCE.

Dutch
OKHomesavers

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Rental properties in 1 land trust or their own! - Posted by Dave (Ar)

Posted by Dave (Ar) on May 07, 2006 at 10:21:44:

I have about 6 different rental properties that i have owned for obout 6 to 10 years, and my personal residence. I was talking to a title company about putting each property and deed it to eaches own individual land trust (cost about $35 each to change title). But they recommended putting all the deeds under one land trust ( personal properties ). What are the positives and negatives,The bank does not have a problem because i purchased them REO and they have the financing anyway.

Thanks in advance

Dave (Ar)