The trustee of a Land Trust holds full legal and equitable title to the real estate, but the complete management of the property plus full power to direct the trustee with respect to the title is in the beneficiaries
- Interest in Land Trust cannot be Partitioned Interest in Land Trusts cannot be partitioned, and transferring beneficial interests is relatively easy.
- No Disclsoure The interest of beneficiaries cannot be disclosed without order of the court.
- Judgements Judgments against the beneficiaries do not affect legal title.
- Beneficial Interest is Personal Property The beneficial interest in a Land Trust is personal property. Since it is personal property, non-residents of Florida can avoid ancillary administration.
- Death of Beneficiary The Death of a Beneficiary does not terminate the Trust, and testamentary dispositions can be made in the Trust Agreement.
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