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Properties with more than one owner can benefit greatly from a land trust. First,
it isolates the property from liens, judgments or other public
record filings against the individual owners. It also allows
for partners to readily and easily sell or transfer their interest
to another investor. Land Trusts also make it easy to gift
the property to a family member whenever they wish without
tax or reassessment. With land trust ownership, it is possible
to sell property for cash and avoid the reporting of the sale
to governmental agencies, thereby postponing or avoiding entirely,
tax consequences. By having only one trustee acting for all
of the owners, there is no need for all of the owners to sign
necessary papers, documents and contracts, which may become
necessary from time to time. This saves time and confusion
when there are several owners.
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