Can the Equity Holding Trust be utilized in buying or selling commercial property?
Yes. A Title-Holding Land Trust can hold commercial property. As a matter-of-fact, multiple beneficiaries can hold varying percentages of beneficiary interestas little as 10% each in such a trust. Do note, however, that specific protection under the “Garn-St. Germain Act” extends only to residential property of fewer than five units. This means that transfer of a commercial property may need to be approved by the lender to void triggering a Due-on-Sale Clause remedy. Disclaimer.Im not an attorney an account or other recognized professional and do not purport to give legal, accounting or tax advice. See above recommendations.
