What Protection Is Available By A Equity Holding Trust?
Remember that TV ad of a few years back where a guy eating a chocolate bar comes around a blind corner and smacks into a lady munching a peanut butter sandwich and voil, the Reese’s Peanut Butter Cup is born! Well, something similar has happened within the world of creative real estate. Grossly underrated, and all too frequently misunderstood, the Title-holding Land Trust has collided with the “Net Residential Lease,” with some astounding results. Both devices-the Land Trust and the Net Lease-have been around for centuries; but only a select few professionals know beans about trusts in general; and even fewer have the slightest idea of what a land trust is. Despite an almost universal ignorance of land trusts, the fact remains that anyone residing in, and making payments on, a property owned by a revocable, beneficiary directed, inter-vivos [“Illinois-type”] title-holding land trust (phew!), need only be made a co-beneficiary in it, in order to reap the myriad benefits of homeownership
Related Questions
- How would a sellers placing a home into a Title Holding Trust, and then creating an Equity Holding Trust (with respect to the sellers applying for another home loan), be viewed by a new lender?
- How is the propertys "mutually agreed value" determined at the inception of the Equity Holding Trust, since there is no sale price per sé?
- What might be the standard costs for establishing an Equity Holding Trust?
