If you are finding yourself asking “what is a land trust?” you are not alone. Also called an Illinois land trust because of its origin, a land trust is a legal document that assigns anonymous land ownership to a beneficiary. A land trust was created in the...
Like all trusts, a land trust is an agreement by which the managing beneficiary directs the trustee in how to handle the benefits of that trust (in this case, real estate). While the managing beneficiary remains the liable party in land trusts, the deed which conveys...
