Land Trusts in Florida.

Front Cover -- Title Page -- Copyright Page -- Contents -- Using Self-Help Law Books -- Introduction -- Chapter 1: Land Trusts History -- Chapter 2: Benefits of Using Land Trusts -- Privacy -- 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 Beneficiaries -- Simplification of Making Gifts -- Ease of Foreclosure -- Safer Lease/Option Agreements -- Keeping Assessments Lower -- Keeping Sales Price Secret -- Limiting Liability -- Improving the Financial Statement -- Ease of Negotiation -- Avoiding Partition -- Avoiding Personal Problems of Beneficiaries -- Holding Judge's Property -- Ease of Property Management -- Saving Title Insurance Premiums -- Avoiding Real Estate Brokerage Laws -- Buying Foreclosures -- Avoiding Seasoning Problems -- Spouse's Forced Share -- CHAPTER 3: How Land Trusts Work -- Florida Requirements for a Land Trust -- Different Florida Statutes -- Validity of Land Trusts in Florida -- Title to the Property -- Owner of the Property -- Third Parties -- Merger -- Trustee's Duties -- Necessary Documentation -- Necessary Parties -- Optional Parties -- Types of Property -- Agency Law -- Liability -- Personal Property -- Chapter 4: Setting Up a Land Trust -- Buying Property into Trust -- Putting Property into Trust -- Putting a Mortgage into Trust -- Choosing the Trustee -- Naming the Trust -- Preparing the Deed -- Preparing the Trust -- Preparing Trust Certificates -- Preparing the Beneficiaries' Agreement -- Due-on-Sale Clauses -- Obtaining Insurance -- Multiple Properties -- Sale and Mortgage Back -- Other Interests in Land -- Out-of-State Property -- Power of Direction -- Foreign Beneficiaries -- Notary -- Form DR-219 -- 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 -- Evictions -- Bankruptcy -- Tort Actions -- Creditor Actions -- Chapter 8: Selling Land Trust Property -- Deeding the Property -- Trustee's Deed -- Assigning the Beneficial Interest -- Contract for Sale -- Lease Option Agreements -- Oral Agreements -- Brokers' Commissions -- RICO Lien Search -- Tax Forms -- Chapter 9: Federal Taxation of Land Trusts -- Tax Returns -- Notice of Fiduciary Capacity -- Beneficiary Status -- Tax-Free Sale of Residence -- Section 1031 Exchanges -- Estate Taxes -- FIRPTA -- IRS Form W-9 -- Chapter 10: State Taxation of Land Trusts -- Real Estate Taxes -- Homestead Exemption -- Intangible Personal Property Tax -- Documentary Stamp Tax -- Sales and Use Tax -- Rental License Tax -- Chapter 11: Securities Laws -- What a Security Is -- When a Security Exists -- Avoiding Securities Problems -- Exemptions from Securities Laws -- Get an Opinion -- Chapter 12: Florida RICO Act -- RICO Liens -- Foreign Beneficiaries -- Chapter 13: Concerns for Trustees -- Fiduciary Obligations -- Liability -- CERCLA -- Corporate Trustees -- Chapter 14: Drawbacks and Pitfalls of Land Trusts -- Unfamiliarity in the Marketplace -- Costs -- Trustee -- Homestead Exemptions -- Glossary -- Bibliography -- Appendix A: Index of Cases -- Appendix B: Statutes &amp -- Regulations -- Appendix C: Checklists -- Appendix D: Blank Forms -- Index -- Back Cover.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.