Can real property be put in a trust or must it be in a corporation?
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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 11 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.
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