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Own Nothing Control Everything with the JFK Land Trust (Melbourne)
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BENEFITS of a JFK Land Trust- become invisible and own your Florida real estate anonymously
Privacy
An adverse party that searches the public record will not find properties that someone purchased through a land trust. If the economic owner names a different person or legal entity as the trustee, the trust maker's beneficial ownership interest in the land trust remains hidden from potential creditors and others interested in the trust maker's assets.
Owners of residential rental property may wish to conceal their ownership from tenants so that the tenants must deal with a property manager instead of bothering the owner. A buyer may want to hide their identity and their other real estate interests during real estate purchase negotiations. Sellers may demand more money if they know a prospective purchaser is wealthy, or that the purchaser is trying to assemble adjoining land for a particular purpose. Walt Disney purchased thousands of acres in land trusts to conceal his plans for Disney World.
Private Transfers of Ownership.
Typically, a person can transfer title to real estate only by publicly recorded deed or mortgage. Alternatively, a person may convey their stake in a land trust property by privately assigning, by sale, or by gift, their beneficial interest in a land trust. The public will not be able to discover the transaction and, in the case of a sale, will not know the transfer price or the buyer's name.
Taxes and Fees
A land trust may also avoid the expense of new title insurance if the property is transferred by assignment of trust interests rather than by deed. Land trusts and assignment of beneficial interests may not properly avoid payment of government recording and transfer fees. These issues should be discussed with a real estate attorney or a tax professional.
Probate Avoidance
Real estate owned by an individual must be administered through a probate proceeding after the owner's death. A properly drafted Florida land trust transfers the same property immediately to successor beneficiaries named in a land trust agreement without the need for a probate court proceeding.
Lien Avoidance
A creditor's recorded judgment automatically becomes a lien on all real property titled in the debtor's individual name (except your homestead). A beneficiary's interest in a land trust is personal property, not real property. Therefore, a judgment creditor will not acquire a judgment lien on the property owned in a land trust merely by recording the judgment in the county where the property is located. Florida Statutes provide protection of land trust property from judgments and liens recorded against individual beneficiaries.
Partnership Alternative
When two or more parties want to invest together in real property, they need a written agreement to express their business arrangement. Typically, the investors form a partnership, write a partnership agreement, and file a partnership certificate with the State of Florida. Real estate investors' business arrangements can alternatively be expressed by the terms of a land trust agreement that sets forth the obligations and benefits assigned to different land trust beneficiaries. Limited partnerships must be filed with the State of Florida and must pay significant filing fees. Land trusts are not filed with the state and pay no comparable fees.
Homestead Exemption
The beneficiaries of a Florida land trust can still qualify for the homestead exemption, both for tax purposes and for protection from forced sale by a judgment creditor. A Florida homestead may be owned by a land trust.
It all begins with a conversation call 850-260-0333
For citizens of Canada and Mexico that are buying real estate in the United States it is perfectly legal for you to hold title to your real estate via a JFK Land Trust.
Becoming an anonymous real estate holder in Florida has many benefits to you:
Maintain confidentiality
Protect privacy
Avoid frivolous lawsuits
Asset protection