Florida Land Trust Act

D if the trust agreement for a land trust created before june 28 2013 is amended on or after such date to add to or increase the duties of the trustee beyond the duties provided in the trust agreement as of june 28 2013 the trust shall remain a land trust governed by this section only if the additional or increased duties of the trustee.

Florida land trust act. Any person or any corporation bank trust company or other entity that is duly formed under the laws of its state of qualification may act as trustee of a land trust. Creation and duration of florida land trust. Zimmerman kiser sutcliffe is a florida law firm specializing in bankruptcy creditor s rights corporate estate planning and probate labor employment litigation real estate tax and workers compensation landmark center one 315 east robinson street suite 600 orlando fl 32801. 2 definitions as used in this section the term.

For 32 years act has been instrumental to facilitating the conservation of over 53 000 acres of florida land. Alachua conservation trust is an accredited nonprofit regional land trust created to address the need of protecting critical natural lands from development and degradation in florida. A beneficial interest means any interest vested or contingent and regardless of how small or minimal such interest may be in a land trust which is held by a beneficiary. This section may be cited as the florida land trust act.

Each state has its own separate laws to govern its land trusts meaning that land trusts differ from state to state. 689 071 florida land trust act 1 short title this section may be cited as the florida land trust act. Land trust means any express written agreement or arrangement by which a use confidence or trust is declared of any land or of any charge upon land under which the title to real property both legal and equitable is vested in a trustee by a recorded instrument that. The florida land trust is a fully revocable grantor trust drafted specifically to buy hold finance and sell florida real estate or other personal property in a confidential or private manner pursuant to the florida land trust act that was adopted by the florida legislature in 2006.

The power conferred by any recorded instrument on a. In essence what might be binding in one state would have no effect in another state. A land trust does not fail and any use relating to the trust property may not be defeated because beneficiaries are not specified by name in the recorded instrument to the trustee or because duties are not imposed upon the trustee. A typical land trust is created by two instruments the deed in trust and the land trust agreement.