What Is A Revocable Land Trust?
A Revocable Land Trust is a simple and inexpensive arrangement where a Trustee holds legal title to the real estate while all of the rights and conveniences of ownership are retained by the Beneficiary. The Trustee’s only duty is to deal with the trust when and as directed by the Beneficiaries and to convey or transfer the trust property when the Trust terminates. Who May Create A Revocable Land Trust? A Revocable Land Trust may be created by an individual, a group, a partnership, a corporation or other business entity. It has become a favorite method for the holding of real estate by syndicates, sub-dividers, builders, industrial concerns, partnerships, corporations and professional groups or societies. (Since corporations cannot own residential real estate, they use Revocable Land Trust/s as the title holder, and assign beneficiary interest to the corporation). Of course Trusts are allowed to own residential real estate. How Is A Revocable Land Trust Created? A Revocable Land Trust c
