Chapter 689 of the Florida Statutes provides for the creation of Land Trusts. These trusts are private agreements designated to hold real estate. There are several benefits in holding your real estate investments in land trusts. The beneficiary of the Trust remains confidential during the life of the Land Trust so long as the individual or entity appointed as Trustee is not one and the same as the beneficiary. The beneficiary of the trust can seek relief in bankruptcy court without affecting the real property, which can continue to be managed by the Trustee because the real estate interest is separate from the beneficial interest in the trust. Land Trusts can also provide an alternative for wholesellers to the traditional assignments of contract or double closings because the beneficial interest in the Trust can be sold to end-buyers outside of closing. If you are interested in a Land Trust for your real estate investments, call or email one of our attorneys at LCO Law LLC.
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