Can real property be put in a trust or must it be in a corporation?

Get Legal Help Today

 Secured with SHA-256 Encryption

Can real property be put in a trust or must it be in a corporation?

Our family camp is in the name of 5 children.

Asked on May 7, 2012 under Estate Planning, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Real property depending upon the specific needs of the property's owners can be held in the name of a corporation, or a trust, or if in a corporation, the trust could have the corporation as an asset of it as layers of protection for its owners in addition to having a good policy of insurance in place. 

Since I do not know the particular needs that you have with respect to the family camp that you are writing about, I suggest that you consult with an attorney practicing in the area of Trusts, real estate and business law to advise you on the best way to hold legal title to the real property that you have written about.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption