How do I set up a Land Trust?  What is the purpose and reason for setting this up?
817378
If you create a Trust by allowing the Trustee(s) to handle affairs about the land, there could be three valid reasons.\nFirstly, the land belongs to an association and not any group of individuals. So trustees are made to handle the monetary aspects. Secondly, if the owner is a foreigner and cannot buy the property under his own name, he can appoint a Trustee to take care. Thirdly, Trust Deeds can be a temporary insurance for lender/borrower transactions.
822649
You have to deed the trust to the house. You may need to get permission from the mortgagee bank AND make sure that your TITLE INSURANCE policy still covers you: you probably need to get their written consent also, and perhaps pay them something.\n\nAlso: check on what effect the trust has on your HOMESTEAD RIGHTS in Texas, and on your property taxes.\n\nNormally when a trust deed is written, if it's not to be funded right away a small amount of money -- $1 will do -- is paid in.
957077
A trust fund won't help you in this instance.  A trust fund is a legal device set up by someone for the benefit of someone else.  In this case, it's your money for the benefit of you.  Also, a trust fund is just a legal way of holding assets; they still have to be invested, which is your real question.  You have several options  -- you can read, read, read and learn about stocks and real estate, which would be the best investments for your goal, or you can find a trusted financial advisor to do it for you (but watch like a hawk).  Your goal is pretty aggressive and remember, the more aggressive your investing, the riskier the investments (meaning, you could also lose big -- like year 2000 stock market crash and the tanking of real estate in many markets right now).
1186412
Contact your trustee.  They must first set up your account, then they will give you sign-on instructions.
269191
Has the land been transferred into your name through the probate process?  In what state is this land located?\n\nIf so, GO IN PERSON to the county recorder's office and ask them to show you what land is in your name.  You should be able to take the coordinates you are given (or that you might already have) and look in the plat books to see the location of the land.  A plat book is a very thick book that has all the land in the county in it, and it shows who owns which parcel.  Since there is so much land in a county, there are probably multiple plat books for each county or township within the county.\n\nIf it is not in your name, it needs to be put in your name ASAP.  If no one has filed for probate to administer the estate of the deceased, hire a lawyer and file.  The legal costs will come out of the estate.
664322
A couple of things.  You dont need multiple policies, one will do.  The policies allow you to designate beneficiaries, and also you are able to designate percentages to each.\n\nIf you want to control how the money is used, have a trust setup so that if you died, the insurance proceeds would go to the trust and the trust would distribute proceeds according to your pre-established desire. You pick who you want to be the trustee of the money...someone you trust would spend money according to your wishes..it could be a friend, family member, or outside independent source.\n\nThat would keep the money out of everyone's hands.
178792
As an Englishman living in England,let me tell you this,my friend, the only land that you can buy where you make a profit is that where they are pulling down council estates and that will cost you a small fortune ! Try looking a small farms with no amenities and planning permission.
274481
We probably need more information to answer your question.\n\nA land trust will only provide limited protection to you as an investor/landlord.  All a land trust can really offer is anonymity to the trust beneficiary.  Your liability protection is provided by the LLC.  While land trusts are cheap to set up, doing so may not offer sufficient protection.  \n\nIn the end it really depends on what you want to accomplish.  Many beginning investors worry too much about how to set up entities and structure their deals.  My rule of thumb is you probably don't need more than a single LLC to hold your long term property investments. \n\nI would recommend that you discuss this with your attorney before making your final decision.
1001065
Try going to www.rei.com, where the outdoor advisers are happy to help everyone with questions. They won't ask or care whether you are member or not, whether you buy anything or not. You can talk to them via real-time chat or on the phone.
683864
Land tends to be a terrible investment. The reason is that your only return of investment is through market appreciation. And, the only way to acquire your appreciation is through the sale of the property. In the meantime, you have property taxes to pay.\n\nIf you are buying the land for development, make sure you can build or subdivide the land for building before you purchase. Typically, a seller should provide any engineering or survey work that would indicate its suitability for development.
1168622
It sounds like you're alluding to an equity sharing mortgage.  I've seen municipal agencies offer loans like these, they didn't appear on title (just as beneficiary of a trust deed).  Also, generally they need to wait for you to sell or refinance the property to get their cut of equity.  Wouldn't it suck if the lender all the sudden said, "OK, give me my equity!" and you had to come up with a couple hundred thousand dollars!
790405
In order to qualify for the loan, the trust has to have a credit history and source of income.  Well, trusts can have a source of income (rent, in this case), but it's rare that they have a credit history.\n\nThe way most folks have to do this is temporarily quitclaim it to the folks who qualify for the mortgage, them quitclaim it back to the trust, who agrees to be responsible to them for the payments, loan balance, indemnities, etcetera.\n\nAnother way is for the people to guarantee repayment, but this is complex and may result in higher rates than the first way..\n\nEither way, there are tax and credit implications.  Talk to an accountant about the one, and ask your loan officer about the second.  If the loan officer is clueless, run "Cosigning Mortgages" through a search engine, but I wouldn't trust a clueless loan officer.
703618
go to geocities.com and they will walk you through setting one up... even give you free space.
280666
You have an Abstract of Title showing copies of the documents affecting title to the land which you are the surface owner of, I take it? But the Abstract is pretty old, I imagine and not up to present day because getting Abstracts nowadays is very expensive. It used to be easy and we did it all the time. \nThere are a ccuple of different routes you can take here, but be aware, neither is inexpensive. \n\nThe first is to find a lawyer who specializes in real property law. Bring your abstract to the lawyer, and tell him or her that you want to know who is the current mineral owner under your surface.  The lawyer can run or have run a title search to bring the title of the Abstract current and then can render an opinion as to who the owner is.\n\nAnother method is to go to a title company and see if you can pay them to bring the Abstract current and tell you who they think owns the minerals. Usually title companies nowadays only like to work where real property is being bought or sold and they can sell title insurance, but they might be able to steer you to someone who knows how to search and research title if they are not willing to do it.\n\nOtherwise, your only choice is going to be to go yourself to the records of the county clerk and recorder, get someone there to show you how the grantor/grantee index works and try to do it yourself. I don't recommend this method.\n\nPossibly, you could try to find a Petroleum Landman (these people are also women sometimes) who do these types of title searches for a living.  Again, this is expensive, a good "field" landman, as this type of expert is called can easily ask for $450/day as a rate.\n\nGood luck in your search.
196596
Its always a good idea to contact a few realtors, if your not very familure with buying land or local ordanaces that might apply to your type of business.  It might also a good idea to contact some insurance compnies to make sure you'll be able to get the liabilty insureance needed and to check and see if they might have any requirements regarding the land that might affect your premiums.
706915
Contact the particular service provider. They will send a team for inspection of your land and finalise.
42622
There are many types of trust, but on a basic level it is the ownership and management of property by one person on behalf of another.\n\nIf my answer was helpful, please consider selecting it as the best answer. :-)