Why to Consider A Land Trust
Ever been sued? With over 80 million lawsuits filed every year in the U.S., chances are that you either have been or regrettably will be in the future. Landlords and real estate investors are often susceptible to liability, and is any property they own in their own name. The article, “Get That Property Out of Your Name” by Larry Potter makes the argument that if you own property under your individual name, you should consider transferring that property into a Land Trust.
He argues a Land Trust, if properly setup and implemented, will hide your name from the public records. The same public records which allow potential creditors to gauge your potential value (should you be sued) or attach to your property if a judgment be entered against you.
With a Land Trust, no one will know who owns your property but you, your attorney and the trustee. If a judgment is entered against you, a lien will not automatically attach to the property, since title is not in your name.
To read more about the potential benefits of Land Trust instruments, click here.