Land Trust

Land Trust

A Land Trust is a trust arrangement that meets all of the following requirements: The legal and equitable title to the trust property is held by a trustee The interest of any beneficiary of the trust is personal property, and The beneficiary(ies) of the trust possesses (possess) the sole: Power of direction and control over the trustee in dealing with title to the trust property Control of the management, operation, renting, and selling of the trust property, and Right to the earnings and proceeds of the sale or rental of the trust property