There are many ways to protect yourself, your property and your family from risk and liability in today's world. Some of the strategies are really basic while others are probably way too complex (except for those few individuals who really do need the complexity).
Evaluate and Understand YOUR RISKS
The key issue here is to really evaluate and understand what risks and liabilities you want and/or need to protect yourself from. We often over estimate potential risks and then respond by over reacting with complex real estate ownership structures.
Keep It SIMPLE
Often, the best structure for holding title to real property is in the owner's name combined with good property and casualty as well as excellent liability insurance coverage. However, when you have above average exposure, additional steps might be needed and should be analyzed to determine if the additional work, costs and complexity is worth it.
Keep Your Real Estate Private
One such step is evaluating the Title Holding Trust or Land Trust. The Title Holding Trust keeps your name off the public record. Your property is owned and held by the Trustee of the Title Holding Trust. Your name does not appear anywhere in the public record.
The Title Holding Trust (Land Trust) provides you with the confidentiality and privacy for your real estate portfolio that you might just need in order to protect yourself. The confidentiality and privacy of ownership advantage is by far the most important benefit of the Title Holding Trust (Land Trust).
There are many reasons that confidentiality and privacy of ownership for real estate are important issues to consider, including:
- Protection from risk and potential litigation
- Identify theft
- Stalking victims
- Negotiating advantage when acquiring property
- Many more...
The Title Holding Trust allows you to buy, hold, manage and sell real property in a very confidential and private manner. It just might be the easier solution that you have been looking for.
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