What is the difference between a land trust and a living trust?
What is the difference between a land trust and a living trust? Min Austria Assistant at Ascent Law LLC A land trust is similar to a living trust, but is only used to hold real estate. It can include a primary residence, mineral interests, and mortgages or notes. Its grantor is the trustee, and the beneficiaries can be either you or an entity controlled by you. Because of this, a land trust allows you to retain your right to the property it holds, while also maintaining your privacy and keeping your property separate from your personal assets. A land trust can be revocable, meaning the settlor can change its terms while he or she is still alive. Beneficiaries can also change the trustee if the trustee is uncooperative. A land trust can also help protect your family's privacy by not revealing your legal ownership of the real estate. While land trusts are similar in structure and function to living trusts, they have some important differences. A land trust is revocable, whereas a liv...