February 10, 2021

All About Land Trusts, with Ron LeGrand

Episode 100:

You may know Ron LeGrand as the real estate guy. He’s been at it for 36 years and has bought and sold well over 3000 houses without using his money or credit, and he’s taught hundreds of thousands of people to do the same and still do to this very day. Ron still teaches classes all over America and does live deals with students everywhere he goes.

What you’ll learn about in this episode:

  • How filling out and recording a land trust deed works, and how the trust is created automatically by filling out the deed
  • Why there is no liability involved in a land trust, and why there are many good reasons to create a land trust and no reasons not to
  • How the Garn–St. Germain Depository Institutions Act of 1982 protects you from the bank calling the loan due because you put your property into a trust
  • What four key reasons and benefits make a land trust a great idea, and why even your primary home can benefit from being in a land trust
  • Why there are no tax consequences for putting a property into a land trust, and why a land trust doesn’t need an EIN number or a bank account
  • How putting your property into a land trust can protect your property from liens since the property is owned by the land trust, not by you personally
  • Why it is important to advise your attorney and CPA when you sell a home that is held within a trust, and why you’re actually selling the trust instead of the property
  • What the difference is between an LLC and a land trust, and why an LLC has far fewer requirements but offers a greater level of privacy
  • How putting houses into separate land trusts can help compartmentalize your money so that you aren’t putting all your assets at risk of a judgment against you
  • What common mistakes many attorneys will advise you to make, and how to avoid those common pitfalls while protecting your assets

Additional resources:

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