We all establish land trusts when we buy a house, don't we?
ML/NJ
“We all establish land trusts when we buy a house, don’t we?”
I’m not trying to read into why they established a land trust to purchase property. It appears that they are actual owners of the property although why they need 2-3 other people as co-owners is beyond me. I wouldn’t Trust (forgive the pun) Barry Soetoro as far as I could throw him.
That being said there are legal tax perks to purchasing property in the name of a corporation or trust. Our best friends have done it and we are getting ready to do it and there is nothing nefarious about it. But then we are not Barry and Moochelle either. And we are not adding our attorney and a judge on as co-owners. LOL!
Most people do not purchase in the name of a trust or corporation so it is not the normal transaction.