Succession and Probate Avoidance – Under a land trust agreement, the party creating the trust can retain sole control over the property during his or her lifetime, with the provided for succession in ownership becoming effective upon death without the expense of going through probate proceedings. This can be especially helpful to those who live out of state but own real estate in this state. They will not have to institute separate probate court proceedings but can have the land trust property administered in their home state.

Owner protection – If the property in trust is owned by more than one individual, the title to the property may become faulty and unmerchantable because of death, legal disability, divorce, judgments and many other types of litigation affecting one of the co-owners. When the property is held in a land trust, a judgment against one of the beneficiaries does not automatically constitute a lien upon the real estate held in trust. Thus, a beneficiary is provided with an extra measure of protection against lawsuits.

Ease of conveyance – A land trust provides a convenient means of mortgaging and selling a trust property without having to obtain deeds from all of the beneficiaries and their spouses. This is especially helpful in situations where numerous parties have an ownership interest or the involved parties are living in different states.

Privacy of ownership – Under a land trust, unless required by law, the identity of the real owner is not disclosed to the public, keeping parties involved confidential. Our beneficiaries are always notified regarding inquiries about their property.

Disposing of part interest – The disposition of a partial interest in property may be advantageous for estate planning purposes. A land trust simplifies the common problem of disposing of a partial interest in a property since the beneficial interest under a land trust can be transferred by assignment. The assignment of the beneficial interest eliminates the necessity of a deed.