Agreement and Declaration of Trust (Land Trust)

Posted on February 28, 2011 by global

Use this trust for ownership of property if your IRA will actually own it. Make your IRA the beneficiary instead of yourself.

(Revised 04/23/2018)

Agreement and Declaration of Trust

This entry was posted in How to Get Rich With Your IRA And Never Pay Taxes, Pretty House Terms Cash Flow System, Quick Start Real Estate School and tagged , . Bookmark the permalink.

52 Responses to Agreement and Declaration of Trust (Land Trust)

  1. Tom Sailors says:
    February 28, 2012 at 8:36 pm

    would like to download

    Reply
  2. KJ Roberts says:
    August 27, 2012 at 12:05 pm

    This is the one I was waiting for

    Thank You

    Reply
  3. Ron Caruthers says:
    October 2, 2012 at 3:12 am

    Yes! Thank you, Ron.

    Reply
  4. Ron Caruthers says:
    October 24, 2012 at 12:09 am

    Like I said in a previous forum post, this is a great way to hold title to property for college.

    Reply
  5. KJ Roberts says:
    January 19, 2013 at 4:56 pm

    A trust is where the legal ownership of property is separated from the “beneficial” ownership. The beneficiaries have the ultimate benefit of the property, but in the mean-time someone else, the trustee(s), are the legal owners and manage the property in the interest of the beneficiaries. By definition trust property is never transfered to beneficiaries.

    Reply
    • Kevin Meissner says:
      June 3, 2013 at 4:47 am

      KJ it is my understanding that the trust (a legal person) owns the real estate not the trustee(s). The trusts name shows up on the property tax records search as the owner. Furthermore the beneficial interests can be legal entities (legal persons). A land trust offers virtually no asset protection, only privacy. A legal entity like an LLC or corporation would offer some asset protection. Bill Gatten has an amazing book on land trusts.

      Reply
  6. KJ Roberts says:
    January 19, 2013 at 4:56 pm

    The fundamental difference is that when you declare a trust the trustee is already the legal owner, they are simply declaring that they are now holding it on trust for someone else. When the property is transferred the current owner gives it to someone else to hold as trustee for some other beneficiaries.

    Reply
  7. KJ Roberts says:
    January 19, 2013 at 4:57 pm

    You may be thinking of the rules to effect a valid transfer of trust property, which are obviously not relevant to a declaration. A trust made by transfer will only be valid if the property is validly transfered. A failed transfer does not take effect as a declaration of trust.

    Reply
  8. Christy Nguyen says:
    April 9, 2014 at 8:48 pm

    This one show beneficiary and it should be kept private (not recorded). So which form is used to declare trust name to be recorded on public record? WARRANTY DEED TO TRUSTEE and…?

    Reply
  9. Michael Alexander says:
    June 11, 2014 at 2:57 am

    Question… once a property is held in trust… what sales contract is used to sell with a wrap? I’m in Texas so I don’t sandwich lease properties. I purchase sub 2, hold in trust, and sell with a wrap. I can’t seem to find the sales contract with terms that Ron uses. alexandermichaelwinston@gmail.com 832-464-5348 Please Text or email me. Thanks, Mike

    We co-wholesale and bring buyers in Houston. http://www.ownerfinancepartners.com

    Reply
  10. William Clark says:
    June 28, 2014 at 11:48 pm

    THIS is one of the great forms I was looking for. Great posts. I just watched the video and the Warranty Deed to Trust is the document that gets recorded on public record, that’s it. The other document (Agreement and Declaration of Trust) is filed away in my filing cabinet. Check out Ron’s other video to confirm the information I just stated. I don’t have the link readily available or I’d post it for you.

    Reply
  11. Shay Lance says:
    September 7, 2014 at 12:49 am

    Super form. Thanks for covering so much ground for us. Save us tons of money. YAAY!!

    Reply
  12. Paul Brennan says:
    November 16, 2014 at 10:49 pm

    the trust takes the deed,not the llc
    correct?

    Reply
  13. Paul Brennan says:
    December 3, 2014 at 2:40 am

    yes

    Reply
  14. David Otero says:
    March 2, 2015 at 11:21 am

    THANK YOU KINDLY FOR ALL THE LESSONS

    Reply
  15. Floyd Davis says:
    March 27, 2015 at 6:05 am

    Unable to view it. What program or format will it open in?

    Reply
    • Elliot Land says:
      March 27, 2015 at 8:27 am

      It should open in Microsoft Word or similar word processor programs. Try accessing our website from a different web browser. If you use Google Chrome, try Mozilla Firefox or Internet Explorer.

      Reply
  16. Joy Gaspar says:
    April 4, 2015 at 2:39 am

    Just so that I’m clear:

    Jane Doe is currently the property owner, but wants to have the property titled to a trust. So that looks like this, right?

    Agreement and Declaration of Trust: Jane Doe as Grantor and Beneficiary and LLC as Trustee of XYZ Trust

    Warranty Deed: Jane Doe transfer title to LLC as Trustee (not XYZ Trust, right?) Or is it being transferred to LLC as Trustee for XYZ Trust?

    Reply
  17. Joy Gaspar says:
    April 4, 2015 at 2:52 am

    Second question, do you see a conflict if the Grantor and Beneficiary also is an officer of the LLC?

    Reply
  18. Joy Gaspar says:
    April 9, 2015 at 9:35 pm

    Joy again, waiting for a response to an April 4, 2015 post. If its unclear please let me know so that I can explain it better. Thank you.

    Reply
  19. Tony Garza says:
    May 11, 2015 at 10:37 am

    Joy,
    As far as I understand, it’s the latter.
    The P&S agreement will be made between Owner/Seller and “LLC as Trustee for XYZ Trust”, new name recorded on Title. The Trust needs to have been created beforehand by the same Owner/Seller even if done the day before closing. Then at the day of Closing, he/she will ALSO sign an “Assignment of Beneficial Interest in Trust”… this is where your OTHER LLC becomes the beneficiary (NEVER send, fax, email, record, this document)

    I hope this helps.
    – Tony

    Reply
  20. Elaine Yuan says:
    July 5, 2015 at 7:40 am

    Thank you so much Ron, Agreement and Declaration of Trust (Land Trust)is great helps, this is I thinking for so many years and I’m getting the ideas now.

    Reply
  21. Judy Berrett says:
    July 11, 2015 at 3:12 pm

    Great document. I have done a Trust on a mobile home. This seems to have abit more detail. Thank you

    Reply
  22. Pamela Hewins says:
    August 17, 2015 at 3:45 pm

    I want to use a land trust for a property that I’m purchasing for my residence. Do I make myself the trustee/beneficiary? What other document or entity could I create, if I want to further keep my name off of public records, since a trustee’s name will show up in public records for a land trust here in Florida.

    Reply
    • Tim Barnes says:
      March 17, 2019 at 12:32 pm

      As the beneficiary. If you make your self trustee, you just voided what a land trust does. (keep your name off record)

      Reply
  23. Daniel Jones says:
    September 9, 2015 at 12:27 pm

    It seems kind of strange that no one has asked where the grantor is supposed to sign! Has this form been recently changed, because without a signature of the grantor, it isn’t worth much.

    Reply
  24. Kirk Gallagher says:
    September 14, 2015 at 11:51 pm

    What about Anchorage Alaska Can We use this one here ?
    Agreement and Declaration of Trust (Land Trust)

    If so let me Know by e-Mail at kirkgall1969@gmail.com

    Thank You,

    DreamScape Limited

    Mary R.

    Reply
  25. Ronald Forbes says:
    October 19, 2015 at 10:08 am

    It is so nice to know that when I need a form I can get it off the gold club website.

    Once again – Thanks Ron

    Reply
  26. Keith Faris says:
    February 13, 2016 at 4:45 pm

    At the top of this page is says “Use this trust for ownership of property if your IRA will actually own it. Make your IRA the beneficiary instead of yourself.” What form would we use if we don’t want our IRA to own it?
    When would we use the “trust agreement” instead of the “agree and declaration of trust”?

    Reply
  27. Nate Portney says:
    April 14, 2016 at 10:43 pm

    If I use this agreement for my IRA, does that mean the trustee should be a non disqualified person?

    Reply
  28. Nate Portney says:
    May 26, 2016 at 5:51 pm

    Couple important questions about the IRA with Land trust

    So I want to do Purchase & Sale agreement (PSA) with seller using a land trust, with my ETC Trust Roth IRA as the sole beneficiary. So, I just need 1 agreement right? (that is ‘agreement and declaration of trust (land trust)’). Please confirm some points:

    Couple questions about setup:

    1. How do I NAME my trust legally?
    For example: Can I Just call land trust: “3767 Northwood Drive Land Trust Dated March 5, 2016”
    Where ‘3767 Northwood Drive’ is the address
    I include the date for identification.
    Is that method ok?

    Or, is it possible for brand purposes, let’s say my seller site is ‘Buyers Aventee Group’, and I am forming this on March 5, 2016. Can I call the land trust: “Buyers Aventee G48 Land Trust Dated March 5, 2016”
    Where ‘48’ denotes the land trust reference to address of property in question.
    Which way do you recommend, and can you provide an example?

    2. My Roth IRA is the sole beneficiary, so I would just include legal titling of it as: Equity Trust Company Custodian FBO (ACCT#) IRA
    Since Equity trust does NOT sign any docs, I would personally just sign to the name, correct?

    3. My ‘witness trustee’ is just signature of the trustee (if person, he/she can just sign their name, right? Or do they need to include

    For example, in am in California. So they would sign and right after write ‘as trustee of XYZ Land Trust Dated March 5, 2016’ is that correct?

    4. For notarizing, both myself as beneficiary signature, or just notarize signing by my Trustee?

    5. Are there any other trust related docs I need for my transaction?

    Thank you!

    Reply
  29. Dorothy Roberts says:
    August 16, 2016 at 3:25 am

    I am just starting and have no money to invest in an LLC to hold the land trust. Should I form the land trust and when financially able put the land trust in the LLC or just wait until I have the money?

    Reply
  30. Bill Young says:
    October 4, 2016 at 5:15 pm

    I don’t see Exhibit ‘A’. That’s an important part, no?

    Reply
  31. Vyacheslav Say says:
    January 20, 2017 at 10:02 am

    Powerful document. Thank you Ron for educating us on this great tool.

    Reply
  32. Vyacheslav Say says:
    January 20, 2017 at 10:02 am

    Powerful document. Thank you Ron

    Reply
  33. Steve Shabkie says:
    May 29, 2017 at 7:31 pm

    Hello Ron;

    Do I have this correct on taking trust title

    Example;

    Agreement and Declaration of Trust: John Doe as Grantor and Beneficiary and My LLC as Trustee of XYZ Trust; or street of property; as named Trust?

    Warranty Deed: John Doe transfer title to LLC as Trustee (not ABC Trust, right?) Or is it being transferred to LLC as Trustee for ABC Trust?

    Is this the correct language for recording these agreements?

    Reply
  34. Karen Lambert says:
    June 26, 2017 at 4:40 am

    It would print best with leagle size paper

    Reply
    • Will Hartman says:
      July 29, 2017 at 6:58 pm

      Thank you, Karen – I was printing with letter size paper and was scratching my head for a minute. Printing it as legal fixes it.

      Reply
  35. Malia McVee says:
    October 16, 2017 at 8:13 pm

    So do we create the LT name on the spot or do we have to have several LTs to put a house under ready to go.

    Reply
  36. David Comings says:
    September 29, 2018 at 7:46 pm

    Is there a successor beneficiary clause – in the event of my death. My family members are ready, willing, and able to take over. Did I miss the wording?

    Reply
  37. Ed Torres says:
    November 13, 2018 at 10:47 am

    I am trying to download word and or adobe reader and can’t; any suggestion?

    Reply
  38. Ian Lemke says:
    June 7, 2019 at 7:11 am

    Thanks Ron,
    I’m working up a land trust this week with my attorney.

    Reply
  39. Roger & Lu Young says:
    June 28, 2019 at 1:44 pm

    The Agreement and Declaration of a Land Trust form is excellent. Makes it simple to setup a trust for your home or your investment properties. Great document!

    Reply
  40. Thomas Erb says:
    July 14, 2020 at 2:27 pm

    Perfect! Needed this for a while

    Reply
  41. Treanch Grant says:
    October 23, 2020 at 10:56 am

    Thank you for this form. It seems somewhat straight-forward to complete. If help is needed, I’ll contact my mentor or VIP line.

    Reply
  42. Maria Ayesta says:
    February 25, 2021 at 2:56 pm

    Great Information

    Reply
  43. Viktoria Ilieva says:
    August 14, 2021 at 3:38 pm

    That’s how it’s done, very cool.

    Reply
  44. Robert Straker says:
    June 7, 2023 at 6:02 pm

    hello,

    This is another form that goes into detail. Who ever helped Ron to write it did a great job of putting it together. I will use it for myself and share it with friends who can use it as well.

    Bye for now,
    Robert

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *