What is a Colorado Land Trust? If you are looking for a conservation type land trust, you are in the wrong place. If you are looking for a title-holding, “Illinois type” land trust, you’ve hit the right page!
A land trust is a revocable, living trust used specifically for holding title to real estate. The trustee is a person with a different last name than the beneficiary for maximum privacy. Since the land trust document creating the trust is not recorded, nobody but the trustee and beneficiary know who the beneficiary (real owner) is. If you have many properties and want to keep your name off public records away from government inspectors, code enforcement, ex spouses, tenants and lawyer, a Colorado land trust may be for you.
Land trusts can protect you from liens filed against your name, because the property is titled not in your name but in a trust. Also, if you own property in a homeowner’s association with a trust, you are not personally liable for the unpaid HOA dues and assessments, but rather the trust (which only owns one property) is liable. Furthermore, if you sell a property from a land trust and end up with a title claim, the claim will be against the trust, not you personally. As you can see, there are many benefits to holding real estate in a Colorado land trust.
For more information on setting up a Colorado land trust, visit our main site at www.bronchicklaw.com or call us at 303-398-7032.