A private land trust is a form of real estate property ownership which provides several benefits to real estate owners. The first benefit is privacy because the title ownership is secretive. The second benefit ease of transition after a death. A private land trust offers a provision or provisions that allow a real estate owner to transfer their property interests to their loved ones upon death. The third benefit is a private land trust protects against liens and judgments. This is a huge benefit in today's economy because you cannot sell a property if you have a judgment against you in your personal name. For example, I spoke with a real estate owner today facing foreclosure on his primary property while he owns a second investment property in another city. A private land trust provides basic asset protection against liens and judgments. This is important because one can have a judgment against them and sell their real estate without satisfying the lien or judgment.
Sean Robertson is an estate and asset protection attorney. Sean Robertson can be reached at (312) 498-6080 or (630) 364-2318.
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