You can see the video versions at either facebook.com/celticwindinvestment or on youtube at youtube.com/mikenweston/. These are original documents we\'ve been developing over the past year to educate Realtors, US Investors, Foreign Investors, distressed home owners and Retiring Baby Boomers
1. Checklist
Current Property Process
Buying a Property Process
Foreign National Process
Time Required for creation?
Set up Cost
Annual Maintenance Service
2. Complete Land Trust Data sheet
Check beneficiary for RICO liens
Check mortgage for due on sale clause
Obtain approval for transfer if necessary
Trust
Prepared
Executed
Beneficiary Agreement
Deed to trustee
Prepared
Executed
Recorded
Prepared
Executed
Statement of registered agent for ABO (if foreign beneficiary)
IRS Form 56
Prepared
Executed
Filed
Copies distributed to all parties
Land Trust
Formation Checklist
Editor's Notes
The process of creating a land trust for your property depends on the current relationship you have with that property.
The formation steps outlined on this slide remain the same, but your current property relationship may require several resource findings:
If you are intending to buy property as a land trust, the trust is not formed until your offer to purchase is accepted by the seller.
If you own property with a mortgage, have been served papers by your lender and have retained an attorney for defense, talk to your attorney.
If you own unencumbered property that is your homestead, there are preliminary steps to set in motion.
If you intend to place a land trust within either a Limited Liability Company, the LLC must first be formed.