Land Trust Lawyers in St. Petersburg

Land Trusts

A Florida land trust is a written legal agreement among different parties to manage, operate, and hold legal title to Florida real estate property. You, as the trust maker, must appoint someone as a trustee to hold the legal title to a parcel of property for your benefit. Additionally, you are a land trust beneficiary. This means that you control the use and sale of the property.

There are many legalities involved in a Florida land trust. Lopez Law Group can help you navigate the complex laws and regulations that can vary by jurisdiction. There are a variety of reasons why someone may want land trust. This can include:

• Protection from liens
• Making contracts assignable
• Privacy
• Discouraging litigation
• Protection from title claims
• Making loans “Assumable”
• Protection from HOA claims

FAQs

Why do I need a land trust?

There are a variety of reasons why someone would want a land trust. This can include:

• Maintain financial safety
• Protection from title claims
• Protection from liens
• Privacy
• Making contracts assignable
• Discouraging litigation
• Making loans “Assumable”
• Protection from HOA claims

Why is land trust better than an LLC?

While an LLC may provide liability protection for an owner, it will not afford them privacy. Any owner can be located at the Secretary of State website through their LLC, including the home address. And if they own several properties, all of those can be revealed too

Who owns a land trust?

The person who establishes a land trust is typically the owner. If you have a spouse, you are likely setting up the land trust with them. If you decide to transfer the beneficiary you can do so whenever you like and can typically avoid creating issues with your title insurance or documentary tax.

How can a land trust get and send property?

After you have executed documents and have set up a trustee, which often times is yourself, you must then transfer the real estate into the land trust you have created. You will usually go grab the deed and sign in front of a notary and record that document with the county. You will want to make sure that the appropriate language is on the deed to make sure it is transferred correctly.

How do I find out who is the trustee of my land trust?

You will typically be the trustee if you set it up. The question then becomes who is the trustee after you pass away or are no longer able to make decisions? You will name a successor trustee who will take over when that point arises.

Does a land trust prevent the probate process?

If you have a land trust and you put your property in the trust, you will be able to avoid the Florida probate process. A trust is a separate legal entity, meaning that it continues to exist after your demise and will do so until it is terminated.

Is a land trust subject to guardianships?

Yes, it is protected from a guardianship. Instead of having to appoint someone to look after your property by way of a guardianship at the time you are incapacitated, having your property placed in a land trust allows you to avoid that entire process.

Does having a land trust impact tax?

If you would like to set up a land trust or have questions about an existing land trust, the attorneys at the Lopez Law Group are here to assist. We can be reached at 727-933-0015. We can review any documents you may have and can consult with you about the advantages of creating a land trust. If you have questions about an existing trust, we can go over your unique situation and ensure that your questions are answered. We can assist with creation or modification of land trust documents as well. Our attorneys are standing by and are able to speak with you today!