Creditor Protection The Florida Land Trust keeps ownership interests of Florida real estate or other personal property confidential and private because the Florida Land Trust keeps your name off the public record. Although this may help keep creditors away, the actual language in the document does not prevent creditors from reaching into the trust and grabbing the property in the event that they have been made aware of the identities of the beneficiaries. In addition, since the trust offers no option for future estate planning for beneficiaries, any potential barriers that exist between the property and the creditors evaporate upon the passing of the beneficiaries or once the property has been distributed. … [Read more...] about Is the Florida Land Trust the Right Plan for Canadians?
Mojave desert land trust
This Revenue Ruling will be a relief to taxpayers who were concerned that MLTs, if classified as “trusts,” would trigger foreign trust information return filing requirements, such as Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, and Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner. … [Read more...] about Internal Revenue Service Concludes that Fideicomiso or Mexican Land Trusts are not “Trusts” for United States Tax Purposes
Upon his death in 1660, Payne placed a seaside pasture into what now appears to be the nation’s oldest land trust. He decreed the approximately 35-acre parcel should “remain to the benefit of said school of Ipswich forever,” adding, “said land not to be sold nor wasted.” … [Read more...] about A Big Mess in Little Neck: Clause in 17th Century Land Trust Causes Modern-Day Ruckus
DeLapp, a former member of the Lake Elmo City Council, helped found the Washington County Land Trust in 1991. The organization became the Minnesota Land Trust, and DeLapp served on its board of directors until 2001. Since then, he has been a member of the Land Trust’s conservation committee, “evaluating hundreds of projects and providing feedback on the Land Trust’s strategic direction,” according to a statement from the Land Trust. … [Read more...] about Land Trust to honor DeLapp on Saturday
TakeawaysTILA violations are frequently raised both as counterclaims in foreclosure actions and in consumer class action lawsuits. The Illinois Supreme Court’s decision in Financial Freedom reinforces the importance of providing TILA disclosures to all persons whose ownership interest in mortgaged property may be subject to the lender’s security interest. Careful documentation and maintenance of borrowers’ written acknowledgements of their timely receipt of disclosures is critical to overcoming this potential claim and enabling lenders to efficiently enforce their rights. … [Read more...] about Illinois Supreme Court Holds Trustee of Land Trust is Entitled to Rescind Reverse Mortgage For Failure to Comply With TILA