Ron explains why taking title in a Land Trust is important and necessary to protect your assets! He discusses the following in detail: what is a Land Trust, the two parts, advantages, does it work everywhere, Tax I.D. Number, who prepares it, what about my residence, should I check with my CPA, why Land Trust over LLC
This is one lesson you will not want to miss!
thanks for this great reminder about land trusts!! great information!
Yesterday, I went with my brother to RCU in WI so get a better checking and savings account and he said he talked to one of the investment bankers about land trusts, and he had no idea what Mitch was talking about.
It was funny to hear.
Hey am wondering if you cousin still doing deals in Wisconsin? I live here in southeastern Wisconsin
Thank you – there’s pure gold in these concepts and actions. Important to be aware and protected..
If I have a mortgage on the property and my lender finds out that I recorded in the land trust can they call the mortgage
Thank You for this one for sure second time around!
this was a good lesson for me. I have been
a victim of a equity skim and identify theft for a property I owned in my name. also lost a commercial property too! Now i am never going to not have land trusts.
Thanks
Stan
Anyone know where to download the blank form of the land trust?
That was great, cleared up the point between land trust and L.L.C and why you would structure it this way.
R. Dow
Great clarification on the difference between and uses of Land Trusts and Living Trusts.
Ron, thanks for the clarification. Have another question though, since you already own the property in your own name how does that affect the loan and where do the taxes go if you change ownership to the land trust?
Thanks, Chris
Hi Chris, Ron’s response is: the bank cannot call the loan, and there are no tax consequences.
Thanks for the great question!
so if you own a house in your name. you have a mortgage on the house in your name. And you do one of these land trusts. The bank cannot call the loan ? they are stuck with you under your terms? just being hypothetical. and there is no tax consequences, but you still need to pay personal property tax? I need little more understanding thanks Marc
Hey mark I think taking Title in a Land Trust is a or your choice but signing a mortgage is a financial responsibility that must be paid.
thank you Ron for the class and forms
this was an awesome lesson. i very much enjoyed it. thanks Ron.
I love watching these lessons. A lot of really good info.
Great explanation of the differences in Land Trust and living trust. Also when to use either. Just good sense!
As usual, good stuff. Heard it before just need to do it!!!! Thanks Ron
Good Ol’ Ron
I got confused for a second. I understand the Trust has both a trustee and beneficiary. In one part of the video I heard the LLC is the trustee and in another part I heard it is the beneficiary? Can I get an explanation for this. Do I ever put my own name as a beneficiary or how does that work. Thank you
You are the beneficiary, your entity is the the trustee.
They cannot be the same, and you do not want to raise any red flags by having your name show up on public record as trustee so someone begins to pry further.
I ‘ll have to watch again because I got something different…the LLC (LLC for holding long term real estate) is the beneficiary. The trustee can be another individual, third party or another LLC (the LLC responsible for the day to day operations or quick term real estate.)
Check out https://www.ronsgoldclub.com/training/qsre-training/lesson-046-qa-how-to-take-title-using-land-trust. At the 5:08 Mark.
But personally I may want the trustee to be a trusted individual with a different last name with little connection to me.
Check out http://www.landtrustsmadesimple.com/land_trust_blog/58/Using_a_Limited_Liability_Company_as_your_Land_Trust_Trustee.aspx and decide what’s best for you.
great lesson thanks
Take Title to properties using Land Trusts. Good information. Thanks.
Thanks! Ron
Great information as always. Thank you again, Ron.
Thank you Ron for making this Very Clear on how and why to use the Land Trust!
Can you make the trustee your real estate attorney and then your LLC as the beneficiary? Would that provide additional asset protection since nothing in the trust is in my personal name?
I believe so, that’s even better since your attorney has the fiduciary duty of not revealing who the beneficiary is since you are his client.
https://www.ronsgoldclub.com/training/qsre-training/lesson-046-qa-how-to-take-title-using-land-trust
I believe Ron argues against using attorneys for various reasons in this video.
Thanks for reminding me to put property in Land Trusts. I completely forgot.
Public Records show total privacy under asset search by predatory plunder attempting to find property in your own personal name. See REO exception in video above and State of PA.
He cleared up my misunderstanding about Living Trust. A great advice. Thanks
This is a great lesson, it has so much good info in it. It takes a while to wrap your head around it, but once you do, it is very simple.
Thanks Ron!
where is the lesson? I don’t see any link
Hello Christy,
Sorry about the video. It’s now up and running!
i thought it was just me. I don’t see the lesson either
Hi Kristine,
We’ve fixed the video. Sorry about that!
Where is the Trust Agreement Ron mentions at 3:06 in the video? I looked in the Resources section but haven’t found it
Hello Jared,
I believe you’re looking for this document:
https://www.ronsgoldclub.com/resources/new-forms/by-course/private-lending/trust-agreement
Thanks, Ron!!! This is fantastic information!
Is it okay to have a Warranty Deed directly to the Trust instead of the Trustee??
“Warranty Deed to Trustee”… is directly to the Trust. That is the only doc that gets recorded. There is no other way to put it into the “Trust” than the above.
You say there are no tax consequences for a property in a land trust; how do you claim depreciation, repair expenses, etc. at tax time?
Yep, another great one.
Hi Ron,
Can I put a reo property under contract under a land trust and then when I get the offer accepted transfer the trust to my end buyer at the closing for a fee.
Funny, I’ve been told that I can’t take the house that is in my name and get it into a land trust. Will look into this, thanks Ron!
I’m always interested in hearing about trusts. They are important to asset protection. Thanks Ron.
Thank you. On a related note, do you have a suggestion on what we can do to protect our vehicles? Is there a similar type of trust for those?
In a Wholesale deal can the buyer simply be Trust # (123 or whatever) or do you have to have a LLC or Corp to show who owns the Trust( Name LLC of Trust 123)?
wonderful to know! Thanks Ron!
Land trusts are definitely the way to go – I had alway just bought with my LLC but this is so much better and extremely easy to do on your own
Ron,thanx
for this great information and the importance of effective asset protection.
On the warranty Deed to Trustee, I am the Grantor and the trustee is the Land trust name? Or my entity (LLC)?
This was very informative, thank you!
Thank you Ron for the class and forms.
Great Lesson just have to do the changes.
Thanks Ron, I am putting my own house into a Land Trust TODAY!!!
WOW! Super video. Don’t miss this. So simple. Tx Ron!
Where can we get a copy?
What is the best way to take title of real estate in Pennsylvania and protect your assets?
Ron,
Can I transfer a property with an existing mortgage on it into a land trust?
Yes, I’ve done it with “Subject to” properties as well as my personal property.
A lot of questions above, have not been answered in comments. I hope mine will be.
1. Ron keeps referencing “the trustee will be an entity”. Who or what is the entity? I create an LLC with me as the managing member?…that doesn’t work for privacy. I have a separate person “John Smith” be the trustee? Is he called the entity? I’m confused. Please be specific.
For “entity” I use a friend or relative that doesn’t have my same last name. According to the clip here you can use your LLC but I’m like you, LLC ownership can be found quickly.
Judy – great question. I was thinking the same thing but Joan confirmed what I think works best. Have someone you trust that is not a spouse or child be your trustee. They will sign all your documents at closing etc as Trustee. It adds an extra step but at least it keeps you completely anonymous since they have a different name, address and signature.
If I want to deed my property to a trust and it has a mortgage on it, can you do that? I notice the last paragraph says that it doesn’t have any encumbrances on it.Also if I put my name on the deed to the trust , then my name is on record.So won’t everyone see that you owned it?
i have similar question as above-what is best entity to be trustee? and if it is llc won’t my name be on that?
I have several properties out of state so how and where do record the deed?
please let me know
Hello Everyone!
Ron answered all your questions at the following link! Thanks!
https://www.ronsgoldclub.com/training/qsre-training/lesson-46-qa-how-to-take-title-using-land-trusts
what a valuable information,this will help alot of people to protect their assetts
Ron, though you shared alot about Land Trusts, what it is and not, how does it not have to be as perplexed or complicated as it has been made out to be. The value of it’s proper use is enormous to any one who uses it. I have heard no one explain it with such clarity and simplicity as you have.
Thank you