I am looking to buy land this spring. Sleeping in a ford escort wagon is starting to wear me out. If I can buy some land I will primitive camp till I can build a shack. But on to the question. I don't want the land in my name or any relitives either. I am thinking about a trust. Do I need the trust established before I buy or just before I pay the final payment. I know everyone will say to see a lawyer but funds are short. This land will be owner financed. Or should I be looking at a llc to do this. Thank for any help.
Land Trust
Demented Guy
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1) Check your state laws. In some states, like mine, trusts are entirely private. In others, they must be recorded at the county courthouse. If trusts are not private, check for registration terms and fees.
2) Check your state's stance on perpetuities. A perpetuity is a trust that is allowed to continue forever, thus postponing indefinitely the actual transfer to the beneficiary(ies) the assets principal within the trust. This can be huge for deferring forever the transfer and inheritance taxes.
3) Trusts are a legal fiction. As such, they do not have all of the same rights under natural law that a natural person would have. This distinction is meaningless, unless you know and intend to press your natural rights against a legal system that has, at best, purposefully forgotten them, and at worst, is actively hostile toward them.
4) When you sign the purchase contract, in the line where you list the buyer, write in "Demented Guy, or assignee." This means that either you, or anyone to whom you assign your rights under the contract, may and must fulfill the contract. It is such a standard tool that the seller will be more surprised if you don't use it. You may also add a non-uniform covenant above the signature line stating that the buyer reserves the right to assign the contract.
5) On the signature line, sign, "by: Demented Guy." This is because you are signing on behalf of a legal fiction, be it your trust, or the legal fiction that the government has created for you as your proxy. In this wise, you clarify that you are undertaking the action in your capacity as a natural person.
6) Check your state's laws and practice book on litigation. In many states, a settlor/trustee may not represent the trust in court, meaning that you would have to hire an attorney to defend even the most frivolous lawsuits.
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I know its stupid but I have no interest in going to school. I just want to get a piece of land as a base. That nobody can take from me. Then when that's covered I will always have somewhere to go that I cant be told to move along. But it has to be cheap because I get itchy feet.
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Also I'm single and have no children. I'm not a criminal, nor do I have any judgements against me. No debt except the Irs where they take my tax returns. So I just don't want to buy land to have it taken down the road.
So what?!
I didn't want to go either. But I did it.
Beats sleeping in a car. There are typically college type jobs.... You can get a place to live and $1K/month without 1/2 trying.
AND a couple years to plan...and who knows. Perhaps a skill.
It's not all just college full of liberal professors.
I used it to get certified in safety, and a CDL.
Next winter I plan on using it to go to dive school.
As to the rest... It's not hard to find $1k/acre land in the ozarks. Just takes time. I spent 2 years (while I was in school) Looking and paid $812.50/acre.
I'm now sitting in my airstream on the gulf coast waiting on better weather.
As to judgements... Check homesteading laws. Many states even protect it from the IRS (that's how OJ kept all his money. Bought a REALLLY expensive house.)
For lawsuits... I've got a million bucks in liability from USAA....costs me less than $1/day.
It's not hard. You just need to plan.
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I just am so tiered of classes and taking orders, I can't do school. Also I'm not destitute. I work here and there. I got plebty of money in my pocket for getting by. I am in my car because I just can't stomach giving some rich guy my money to have a roof I don't hardly use. I think I just will buy some land on contract and nobody should bother taking it till its paid off. That would be 10 or 15 years down the road. If so I have that long to prepare for my own SHTF.
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Jet thanks for the message. I have a lot of reading to do.
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Then you want allodial title. This requires you to own it as a natural person, and to know, understand, and be able to defend your rights. You may not want to go to school, which I fully understand, but you will need the kind of education that no school these days can give you.
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From what I understand it is possible to title a property to a trust and still be required, as the grantor or settler, to pay the mortgage. If for any reason you do not pay the mortgage the mortgage holder has a lien on the property and is entitled to repossess the property no matter how it is titled.
But, from what I understand, you can not title a property to an entity which does not exist. You must create the trust first.
Think about it, if a trust had title to the property but did not exist, who would pay the property taxes?
But, from what I understand, you can not title a property to an entity which does not exist. You must create the trust first.
Think about it, if a trust had title to the property but did not exist, who would pay the property taxes?
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Thread is 7 years old and the OP hasn't logged in since 2015.
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Selling it to a trust is little different than selling directly to a natural person.
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The property can be deeded to the trust at any time. If there is a lien, equitable title is the interest transferred. A trust must be funded, lest it be defeated for lack of principal. One way to fund a trust is to transfer title to real property.
For anybody interested, here is a link that will allow anyone to prepare a simple land trust. Even if you decide to use an attorney, it would be helpful to first fill out the trust document and bring it with you to the lawyer; it could cut the cost in that you will have all of the necessary information in one place.
www.wonder.legal
Living Trust Agreement - FREE - Template - Word and PDF
A Living Trust, also known as a Revocable Trust, is an Agreement created by a person, known as the Grantor, to hold some portion of their assets during their lifetime. The Trust provides for payment of income to the Grantor and the distribution of the remaining Trust assets once the Grantor dies.
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