Land Trusts with Attorney Joseph Seagle – Belk on Business – Episode 169

Joe Seagle is a legal “GPS” for real estate investors and high worth individuals. Mr. Seagle’s law firm and land trust company supports real estate investors, developers, brokers, property managers, and private lenders on their land trust, private lending, and entity formation needs. Practicing law since 1996, he is licensed in Florida, North Carolina, South Carolina, and the District of Columbia. He is also a licensed Florida title insurance agent. More information regarding Attorney Seagle and land trusts, go to his website at mylandtrustee.com

1) There is a lot of confusion regarding trusts. Could you give us a high-level overview of trusts and in what situations they are most useful?

2) Should land trusts be used for an individual’s homestead property or should they only be used for investments properties?

3) Are there any types of investment property types that should not be placed into a land trust?

4) Is a land trust primarily an anonymity tool, asset protection tool or estate planning tool?

5) How does a land trust provide anonymity?

6) How could a land trust provide asset protection?

7) Are there any tax implications for putting a property into a land trust?

8) What protection would an LLC provide over a land trust and is it better to have an LLC be the grantor and beneficiary of the trust instead of an individual?

9) What happens to the property in the land trust if the grantor and beneficiary either ceases operations (if a business) or passes away (if an individual)?

10) What potential land mines or issues could arise if using land trusts such as the lender executing a “due on sale” clause and what is the best way to maneuver through them?

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