land trusts (by Janie [CO]) Jan 2, 2010 8:46 AM
land trusts (by Lynda [TX]) Jan 3, 2010 6:56 AM
land trusts (by Janie [CO]) Jan 3, 2010 8:10 AM
land trusts (by Blue (aka LC) [IL]) Jan 4, 2010 9:59 AM
land trusts (by Janie [CO]) Posted on: Jan 2, 2010 8:46 AM Message:
State Specific Question About: COLORADO (CO)
Want help in setting up land trusts in Colorado. Any advice or recommendations on Colorado attorneys who specialize in this? An earlier post stated an attorney needs to be consulted for an LLC but I wasn't clear on the Land trust issue.
thanks
Janie --207.200.xxx.xx |
land trusts (by Lynda [TX]) Posted on: Jan 3, 2010 6:56 AM Message:
I think you already asked this question and I already answered in detil. If you already own the properties and you bought them in association with your own name--a Land Trust won't help you in any way. Land Trusts are only good if you set up the purchase of the property in a Land Trust BEFORE you buy it.
Its like having a nice cake--and saying lets turn it into a pie! Sure, you can mash it up and put it into a pieshell and put it in the over again. But you will have ruined a perfectly good cake and it will never be any good as a pie either. Why are you trying to turn property you own into a Land Trust?
You shd use a Land Trust when purchasing future properties.
--66.90.xxx.xxx |
land trusts (by Janie [CO]) Posted on: Jan 3, 2010 8:10 AM Message:
Acutally, this is the first time I have been on this site so have not asked this question or any other before.
It has been highly recommended and rightfully so that our 25 rental properties, all in CO be out of our names and into an entity.
I understand your analogy about the pie/cake but why would transfering our propertiy into land trusts even after purchase not provide protecton on an ititial level from creditors and provide annanymity?
Thanks for your response
Janie --207.200.xxx.x |
land trusts (by Blue (aka LC) [IL]) Posted on: Jan 4, 2010 9:59 AM Message:
The short answer is that when you look at the tax record of a property, it lists all the owners that ever were. And if you search by owner, it shows all properties under that name.
Doesn't take a rocket scientist to figure out that you own the property and flipped it into a trust. --68.91.xxx.xxx |
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