Who is the beneficiary of the land trust if the property title has been changed?
As you know, the land trust agreement explains the rights and responsibilities of the land trustee and beneficiary. You have to find the agreement and read it carefully or ask an attorney. The beneficiary or any person designated in writing by the beneficiary has the power to direct the land trustee regarding the title, management, mortgaging and other ownership rights of the land.
Related Questions
- I am the nominated beneficiary of a discretionary trust which holds both pre-2006 land and post 2006 land. How does this impact on my land tax liability?
- Can a joint tenancy title be changed without permission of the other joint tenant, and is my mother entitled to all or half of the property?
- How is the deduction available to the notified beneficiary or unit holder in respect of the trust land calculated?
