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Anyone or any entity can be the beneficiary of the land trust, including persons, corporations, partnerships, limited partnerships, limited liability companies and other trusts such as a living trust.
Since a person has the right under federal law to transfer his real estate into a land trust without violating the due on sale clause and he can transfer his beneficial interest to a purchaser without recording anything, that person can sell his property subject to the mortgage without the bank finding out about the sale.
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In today's society, a properly structured estate plan is more than just a plan to avoid probate. An estate plan is now used to preserve wealth while a person is alive, prevent lawsuits, provide privacy for the owners of the plan, reduce taxes and lastly to avoid probate.
Clients have used their Nevada corporations and corporate bases to their advantage in many interesting ways, especially those who have corporations in other states and are losing from 3 to 12% of their income to state corporate taxes.
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