William Bronchick - 5 Great Reasons to Use Land Trusts

Do you own real estate in your own name or an LLC?  If so, you are a sitting duck for tenant lawsuits, the IRS and code enforcement.  Whether you own in your own name or an LLC, the information is public about who’s behind the ownership of your properties, and that makes it difficult to keep anonymity from your tenants and code enforcement officers.  Your properties are subject to inquiries, lawsuits, and asset searches.  In short, you are naked in a world of information – unless you use a little-known device… “land trusts”.

William Bronchick - Land Trusts

Lawsuits are an everyday threat to your financial well–being. Imagine a thug sticking a .357 magnum up to your throat and demanding you turn over your wallet, credit cards, jewelry, and keys to your luxury car. How do you feel? Scared out of your mind? Vulnerable? Violated? You will feel exactly the same way (and maybe worse) when you are hit by a lawsuit and you know you haven’t done anything wrong! I will teach you the skills you need protect yourself from being a target for the “bloodsuckers” and “ambulance chasers.” With impenetrable walls of protection around you, lawyers and greedy plaintiffs won’t be able to touch you or your assets!

Are you a landlord now or do you have plans to own real estate in the future? If you’re ever sued, realize juries are made up mostly of tenants. They are jealous that they don’t own a house and you have several! The way jury members see it when a landlord has been sued, it’s payback time! This is their chance to get even with every landlord whoever hit them with a late rent charge or made them get rid of that pet. And, consider this… most judges earn less than you. How sympathetic could they possibly be? What do you think the chances are of getting a fair trial? You might as well just hand over your checkbook and the title to one of your houses – unless you use my land trusts course to protect yourself.

Still Not Convinced? Here Are 5 More Good Reasons to Hold Real Estate in a Land Trusts:

Protection from liens. 

 Real estate titled in a  land trust name is not subject to liens against the beneficiary of the trust. For example, if you are dealing with a seller in foreclosure, a judgment holder or the IRS can file a claim against the property in the name of the seller. If the property is titled into trust, the personal judgments or liens of the seller will not attach to the property.

 

Protection from title claims.

If you sign a warranty deed in your own name, you are subject to potential title claims against you if there is a problem with the title to the property. For example, a lien filed without your knowledge could result in liability against you, even if you purchased title insurance. A land trust in your place as a seller will protect you personally against many types of title claims because the claim will be limited to the trust. If the trust already sold the property, it has no assets and thus limits your exposure to title claims.

Discouraging Litigation. 

Let’s face it, people tend to only sue others who appear to have money. Attorneys who work on contingency are only likely to take cases which they can not only win but collect since their fee is based on the collection. If your properties are hard to find, you will appear “broke” and less worth suing. Even if a potential plaintiff thinks you have assets, the difficult prospect of finding and attaching these assets will discourage litigation against you.

Protection from HOA Claims. 

When you take title to a property in a homeowner’s association (HOA), you become personally liable for all dues and assessments. This means if you buy a condo in your own name and the association assesses an amount due, they can place a lien on the property and/or sue you PERSONALLY for the obligation! Don’t take the title in your name in an HOA, but instead take the title in a land trust so that the trust itself (and thus the property) will be the sole recourse for the homeowner’s association’s debts.

For More Information:- William Bronchick