Florida Land Trust Trustee

By having a land trust trustee sign notes and mortgages you can limit your liability for a default judgment if there ever is a foreclosure.

Florida land trust trustee. Find out more about how we can preserve the remaining natural resources on amelia island forever. Florida land trusts operate under section 689 071 of florida law also known as the florida land trust statute or the florida land trust act. There is a fee for setting up a new trust for a client and an annual fee to serve as your trustee. C 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 including but not limited to a leasehold or mortgagee interest is vested in a trustee by a recorded instrument that confers on the trustee the power and authority prescribed in s.

Land trust services land trust service corporation offers land trust trustee services. A land trust agreement is a legal agreement under which the trustmaker appoints another person to serve as trustee and the trustee holds legal title to real estate property for the benefit of the. Land trusts for florida properties. Land trust service corporation was formed by the author of the book land trusts in florida in 1998 because readers of the book found that bank trustee fees were too high and few attorneys wanted to be involved with them.

When a property is in a land trust a disgruntled partner or heir of a partner can t force the property to be sold if this is put in the trust or a side agreement. The two reasons it is not used by every investor are that few know much about it and those who know about it do not know where to obtain trust services at a reasonable cost. In choosing a trustee for your property you should be sure that it is someone both knowledgeable about land trusts and trustworthy. 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.

Each state has its own separate laws to govern its land trusts meaning that land trusts differ from state to state. The land trust is created through the execution of two documents. North florida land trust has partnered with the city of fernandina beach to identify and acquire properties across the island to serve as park space and wildlife habitats which will add to the vibrancy of the area. 1 a deed in trust where the real property is conveyed into the name of the trustee in its fiduciary capacity as trustee not in its corporate capacity and 2 a florida land trust agreement pursuant to which the trustee administers the terms of the land trust.

The florida land trust is an amazing device which offers numerous benefits to property owners.