Florida Land Trust - Index of Advantages
Land Trusts – Index of Advantages
A Land Trust is a remarkable way to own, hold, and sell property Individually, with your Spouse, your Living Trust, Your IRA, or with any number of unrelated Investors, each holding a proportional share of the Land Trust. It simplifies all paperwork, reduces major costs and regulations, lowers taxes, provides privacy, and offers enhanced Protection of your other personal assets outside of the Trust in the event of a judgement against the Trust itself.
- COMPLETE PRIVACY IF YOU WANT IT
Your Name, Address and Signature
Use different address for Trust
If not a LLC, name successor Trustees on Deed
Protects Your Original Purchase Price
Protects Your Future Sales Price
Protects Your Actual Trust Agreement
Protects Your Percentage of Ownership
Provides You with the Ability to Buy and Sell Anonymously
- SIMPLIFIES OWNERSHIP WITH MULTIPLE PARTNERS
Keeps all Owners Names off of public records
Allows fractional interests without being “general partners”
Use Assignment of Title on all Real Estate Purchases
Allows one party (Trustee) to handle and sign all transactions
Beneficiaries can appoint a Director to interact with Trustee
Ease of managing death, buyout or conflict provisions of a Beneficiary
Shields all owners from one Beneficiaries 3rd Party judgements
If Trustee is an LLC or another Trust, Successors can Automatically Govern
Easily links to LLC or other Entity for full Asset Protection
Land Trust can last 100+ Years
- SIMPLIFIED PAPERWORK AND REPORTING REQUIREMENTS
No separate Federal EIN# is required
No State Formation Fees or Annual Renewal FEES
No State Rules or Regulations like an LLC or CORP
No State Annual Reports are required
No State or Local Business Licenses
No Registered Agent Required
No Separate State Income Taxes
Sale of Land Trust is not subject to Real Estate Laws – only UCC Personal Property
Simple Bill of Sale of Trust as Personal Property is only doc required
Simple to Operate across State Lines using just Federal Laws
- FINANCIAL ADVANTAGES
Mortgages on Trust do not appear on your Credit Report
Can Provide for non-recourse financing of Property
Out of State Property gains are taxed in Florida with no state Tax
Sale of Land Trust as Personal Property does not require a 1099
Avoids Due On Sale Acceleration of Mortgage on Transfer
Preserves Title Insurance on Transfer
Preserves Comprehensive & Liability Insurance on Transfer
No costs to Transfer ownership to another Beneficiary
Avoids Increased Real Estate Taxes to new Buyer
Avoids Title Closing Fees and Filing costs on Resale/Transfer
Avoids Doc Stamp Fees in Some States
Avoids State Sales Tax on Transfers
A Beneficiary Interest can be used as collateral for a Loan
- Enhanced Protection of your Other Personal Assets
Keeps the Title free of defects
Protection against Title Claims on Deeds Transfers
Only the Assets in the Trust are subject to Judgements and Attachments
Trust is not liable for any individual Beneficiary’s 3rd Party Judgements
A Beneficiaries judgement cannot cause Land Trust to be Partitioned or Sold
Trust agreement – Poison Pills can be added to it
Require 75% to appoint a new Trustee/Director
Assignment of Direction to an out-of-state Trustee
Trustee is Not liable for Land Trust Judgements, Bills or Expenses
Beneficial Owners are not liable for Trust Judgements, Bills, or Expenses
Trustee and Beneficial Owners are not personally liable for HOA Fees
Out of State Trustees make it difficult for plaintiffs to serve or collect judgements
- Estate and Tax Planning
Land Trusts Avoid All Probate in your state as well as Ancillary Probate in other States
Land Trusts Pay lower personal Income Tax Rates
You can Transfer or Gift $15000 values annually to children to lower overall taxes
With LLC or Living Trust as Trustee, Successor Trustee is simple and automatic
Land Trust can assign new Successor Beneficiaries at death, avoiding court costs
Provides a Method to Sell, but Avoids Foreclosure or Eviction in the event of Default
