Land Trusts for Privacy & Profit - 2nd Edition 2004

Table of Contents

The following is the complete table of contents of the book. The CD contains only forms. It contains all the forms listed in Appendix B. Most are in Word, text and Word for Mac formats but a few are pdf files.
Chapter 1: How and Why Land Trusts Started
Chapter 2: Benefits of Land Trusts

Avoiding Probate
Avoiding Ancillary Administration
Keeping Liens and Judgments off the Property
Avoiding Litigation
Ease of Control by Multiple Owners
Ease of Transferability of Interests
Ease of Changing Contingent Beneficiary
Simplification of Making Gifts
Ease of Foreclosure
Safer Lease/Option Agreements
Keeping Assessments Lower
Keeping Sales Price Secret
Avoiding Transfer Taxes
Limiting Liability
Improved Financial Statement
Ease of Negotiation
Avoiding Partition
Avoiding Personal Problems of Beneficiaries
Holding a Judge's and Politicians' Property
Ease of Property Management
Saving Title Insurance Premiums
Avoiding Real Estate Brokerage Laws
Avoiding Spouse's Forced Share
Buying Foreclosures
Avoiding "Seasoning" Problems
Avoiding Tax Withholding
Chapter 3: How a Land Trust Works
What a Land Trust Is
What a Land Trust Is Not
Potential Legal Issues
What if your Trust Is Not Valid?
When Are Legal Issues Most Likely to Come Up?
How to Avoid Legal Problems
The Trustee's Duties
Out-of-State Law
Necessary Documentation
Necessary Parties
Optional Parties
Types of Property
Agency Law
Title to the Property
Owner of the Property
Personal Property
Due-on-Sale Clauses
Chapter 4: How to Set Up a Land Trust
Buying Property into Trust
Putting Property into Trust
Choosing the Trustee
Naming the Trust
Preparing the Deed
Preparing the Trust
Preparing Amendments to the Trust
Property Management Agreement
Preparing Trust Certificates
Preparing the Beneficiaries' Agreement
Obtaining Insurance
Multiple Properties
Sale and Mortgage Back
Other Interests in Land
Out-of-State Property
Power of Direction
Foreign Beneficiaries
Notary and Witnesses
Notice to the IRS
Chapter 5: Financing Property in a Land Trust
Mortgage of the Real Estate
Pledge of the Beneficial Interest
Chapter 6: Operating a Land Trust
Leasing the Premises
Amending the Trust
Changing Successor Beneficiaries
Death of a Beneficiary
Changing Trustees
Death of a Trustee
Governmental Liens
Terminating the Trust
Chapter 7: Litigation Involving Land Trusts
Parties to the Lawsuit
Identification of the Trustee
Joining the Trustee Individually
Tort Actions
Creditor Actions
Chapter 8: Selling Property in a Land Trust
Deeding the Property
Trustee's Deed
Assigning the Beneficial Interest
Lease Option Agreements
Contract for Sale
Oral Agreements
Brokers' Commissions
RICO Lien Search
Tax Forms
Other Requirementsv
Chapter 9: Federal Taxes
Tax Returns
Taxpayer Identification Number
Notice of Fiduciary Capacity
Beneficiary Status
Tax-Free Sale of Residence
Section 1031 Exchanges
Estate Taxes
Form W-9
Chapter 10: State Taxes
Real Estate Taxes
Homestead Exemption
Real Estate Transfer Tax
Sales and Use Tax
Rental License Tax
Intangible Personal Property Tax
State Income Tax
Chapter 11: Securities Laws
What Is a Security?
What if a Security Exists?
Avoiding Securities Laws
Exemptions from Securities Laws
Get an Opinion
Further Research
Chapter 12: Drawbacks & Pitfalls
Unfamiliarity in Marketplace
Homestead Exemptions
Chapter 13: Concerns for Trustees
Fiduciary Obligations
Corporate Trustees
Further Guidance for Trustees
Index of Cases
Appendix A: State Statutes, Cases and Referencesv
Appendix B: Forms

Form 1: Land Trust Formation Checklist
Form 2: Land Trust Termination Checklist
Form 3: Land Trust Data Sheet
Form 4: Warranty Deed to Trustee
Form 5: Quit Claim Deed to Trustee
Form 6: Land Trust Form
Form 7: Amendment to Trust (adding Powers)
Form 8: Amendment to Trust (Co-Trustee)
Form 9: Amendment to Trust (generic)
Form 10: Property Management Agreement
Form 11: Direction to Trustee
Form 12: Assignment of Beneficial Interest
Form 13: Ratification of Trust by Successor
Form 14: Trustee's Deed
Form 15: IRS Form 56
Form 16: IRS Form 56-A
Form 17: Beneficiaries' Co-Venture Agreement, Simple
Form 18: Beneficiaries' Partnership Agreement, Extended
Form 19: Promissory Note
Form 20: Guarantee of Promissory Note
Form 21: Conditional Assignment of Beneficial interest
Form 22: Security Agreement
Form 23: UCC-1 Financing Statement
Form 24: UCC-3 Financing Statement Amendment
Form 25: Estoppel Certificate
Form 26: Trust Participation Certificate
Form 27: Memorandum of Option
Form 28: FIRPTA Affidavit
Form 29: Assignment of Mortgage to Trustee