Understanding: Land Trusts
If the property is owned by more than one individual, title may be affected by death, legal disability, divorce, judgments or other types of litigation affecting one of the owners.
When the property is held in a Land Trust, a judgment against one of the beneficiaries does not automatically equal a lien on the real estate (although assets of a beneficiary may be subject to collection following certain additional efforts by the creditor). So, there is an extra layer of protection.
Speak with us for more information about liability protection.