One of THE best videos of explaining land trust I've ever seen. Loved how you gave a history lesson because now I'll always remember it because King Henry and Walt Disney. Thanks Clint. Appreciate your teaching.
Clint, ever consider making a vid explaining the process of moving a property that was purchased in the persons name and once paid off its moved into a trust etc. What the pros and cons of the process are and or there are specific steps that should be taken etc?
I am just starting to study land investment. Thank you! Thank you! Thank you! This information is priceless. I so appreciate the history lesson as well. ✅
Clint- Outstanding info- I have 2 rentals that are in titled in my name and my wife's name. So the process would be to first convert them to a land trust, then create and assign to a LLC? One is located in Ca and the other is in SC. is that correct? Do you practice in CA? Thank You
Hey Clint: If one buys or sells a property under the name of the LT, it is highly likely that the closing agent will mail you an overpay refund made payable to the LT. At that point, how would one intend to deposit that check that is made out to the name of the LT? Do you open a bank account for the LT?
Once ownership has been transferred into a Land Trust, how do we inform the HOA and the County of the address where to send correspondence (e.g. bills)? And how do we communicate who the contact person is? Do we need to provide a mailing address (such as a POBox) for such correspondence or does the RA for the Trustee handle all this?
@@ClintCoons Do we indicate only the name of the Land Trust and a new mailing address (a P.O.Box)? Do you have any verbiage we can use an example? Thanks.
@@terrycrawford6740 The change of address and the property owner is handled when the deed is recorded and a "change of ownership" record is filed with the county (every state is different so the "change of ownership" form will vary). Yes you would want a new mailing address to build the privacy screen around your ownership.
Is there a reason to use a land trust rather than an LLC in that state, taxed as a disregarded entity, and member-managed by a Wyoming LLC (that is taxed as a partnership)?
In regard to Wyoming LLC Privacy Nominee, what happen if that Privacy Nominee do not reign or step down from the Entity that I own ? What action need to be taken ? On another note , since Wyoming LLC protecting Assest /property's own why do we need to have Nominee Privacy anyway ?
Wow!!! This is great information and a great alternative to remain anonymous aside from the LLC. Thank you for this information.... and by the way, you are strikingly handsome! I appreciate your videos.
Interesting rendition of the Magna Carta at the beginning. A revocable grantors trust will not get you the highest claim to property. You need to have a trust declaration in which the corpus of the trust is held in fee simple absolute. This allows you to hold alodial Title to land, and hold title free and clear of encumbrances and encroachments. Your BAR cards showing!
Clint looks like Brett Farvre. I looked up the sale of actress Demi Moore's place in Manhattan. The MT2 trust bought it for 47 million. This was recently. I'm new to trusts so I'm trying to learn as much as I can.
You must give up control and distributions are restricted. I prefer to use strategies where I have control over the investments. Keep in mind for some people SD makes sense.
I have a property in CA that I want to put into a Land Trust. I have a new LLC in WY that I want to put as the owner of the Land Trust. Can I do that? One state allows land trusts while the other, where the LLC is, doesn't allow for Land Trusts. I'm not sure which state would apply. I'm new to all of this & I'm still trying to find my way so any help is appreciated!
A buyer wants to buy a property held in trust in order to give the seller his price, but at the buyer's terms without causing a tax reassessment. How can a buyer of a property held in a land trust be sure that a duplicitous beneficial owner didn't already sell his interest in the trust before selling to said buyer?
If you want to dive deeper into this topic, schedule a free consultation with my team today. Visit: aba.link/nyu
This should be required learning in every college day 1 lol... great content.
One of THE best videos of explaining land trust I've ever seen. Loved how you gave a history lesson because now I'll always remember it because King Henry and Walt Disney. Thanks Clint. Appreciate your teaching.
This has been the best educational training.
Thanks Ed
Clint, ever consider making a vid explaining the process of moving a property that was purchased in the persons name and once paid off its moved into a trust etc. What the pros and cons of the process are and or there are specific steps that should be taken etc?
I will add this to the list. Thanks for the idea.
Thank you so much Ive subscribed to your channel long ago. The best lesson ever and you explain everything so thorough!
I am just starting to study land investment. Thank you! Thank you! Thank you! This information is priceless. I so appreciate the history lesson as well. ✅
You are so welcome!
GREAT EXPLAINATION! Thank you for sharing.
Very thoughtful and detailed.
Clint- Outstanding info- I have 2 rentals that are in titled in my name and my wife's name. So the process would be to first convert them to a land trust, then create and assign to a LLC? One is located in Ca and the other is in SC. is that correct? Do you practice in CA? Thank You
Hey Clint: If one buys or sells a property under the name of the LT, it is highly likely that the closing agent will mail you an overpay refund made payable to the LT. At that point, how would one intend to deposit that check that is made out to the name of the LT? Do you open a bank account for the LT?
Yes
Once ownership has been transferred into a Land Trust, how do we inform the HOA and the County of the address where to send correspondence (e.g. bills)? And how do we communicate who the contact person is? Do we need to provide a mailing address (such as a POBox) for such correspondence or does the RA for the Trustee handle all this?
You must handle this activity.
@@ClintCoons Do we indicate only the name of the Land Trust and a new mailing address (a P.O.Box)? Do you have any verbiage we can use an example? Thanks.
@@terrycrawford6740 The change of address and the property owner is handled when the deed is recorded and a "change of ownership" record is filed with the county (every state is different so the "change of ownership" form will vary). Yes you would want a new mailing address to build the privacy screen around your ownership.
Is there a reason to use a land trust rather than an LLC in that state, taxed as a disregarded entity, and member-managed by a Wyoming LLC (that is taxed as a partnership)?
Privacy
With LT you get to hide behind the deed. But anyone can still search the county website and find your name in the bank mortgage. Put 2 and 2 together.
Clint: Could your strategy of using an Assignment for the beneficiary & Trustee work for an Owner Finance deal on a Trustee Sale?
If the question is can you use a trustee other than the seller for purposes of recording a deed of trust the answer is yes.
In regard to Wyoming LLC Privacy Nominee, what happen if that Privacy Nominee do not reign or step down from the Entity that I own ? What action need to be taken ?
On another note , since Wyoming LLC protecting Assest /property's own why do we need to have Nominee Privacy anyway ?
Yes, No bs information. Thank you sir.
Wow!!! This is great information and a great alternative to remain anonymous aside from the LLC. Thank you for this information.... and by the way, you are strikingly handsome! I appreciate your videos.
Glad it was helpful and thanks for the comment. Good thing you were watching one of my older videos when I was much younger. :)
@@ClintCoons You're welcome.
Interesting rendition of the Magna Carta at the beginning. A revocable grantors trust will not get you the highest claim to property. You need to have a trust declaration in which the corpus of the trust is held in fee simple absolute. This allows you to hold alodial Title to land, and hold title free and clear of encumbrances and encroachments. Your BAR cards showing!
Clint looks like Brett Farvre. I looked up the sale of actress Demi Moore's place in Manhattan. The MT2 trust bought it for 47 million. This was recently. I'm new to trusts so I'm trying to learn as much as I can.
I live in Ca, can I do a land trust just for protection against lawsuits?
Land trusts mainly are for hiding of identity
Yes! Privacy is among the chief reasons. There are many good reasons.
Just saw a vid on Tik Tok talking about South Dakota & Trust tax advantages. Any thoughts?
You must give up control and distributions are restricted. I prefer to use strategies where I have control over the investments. Keep in mind for some people SD makes sense.
Thanks for the video. Very informative
I have a property in CA that I want to put into a Land Trust. I have a new LLC in WY that I want to put as the owner of the Land Trust. Can I do that? One state allows land trusts while the other, where the LLC is, doesn't allow for Land Trusts. I'm not sure which state would apply. I'm new to all of this & I'm still trying to find my way so any help is appreciated!
Thank you for your video - I'll be busy!
Thank you for this video!
You are welcome. Thanks for stopping by my channel. Be sure to subscribe so you will get notifications every-time I post a new video.
I AM STARTING A Real Estate Investing co.How can i continue to get your trainings. Oh !I am in Texas.Ed,
Check out our website - andersonadvisors.com
If trustees do not have the power of sale then how is it possible millions of foreclosures are filed in the name of the trustee who forces a sale???
It is how your draft the trust and the power you elect to provide to the trustee.
A buyer wants to buy a property held in trust in order to give the seller his price, but at the buyer's terms without causing a tax reassessment. How can a buyer of a property held in a land trust be sure that a duplicitous beneficial owner didn't already sell his interest in the trust before selling to said buyer?
I heard "Wipe Ass" lol
So I can put my name on my deceased. Parent house . and take my cousin off the trust while she put house in her name?
L