If you’re looking to sell your property, you have many options. One option is to list the property with a local real estate agent. However, this approach can be time-consuming and costly. It’s important to weigh your options and find the best way to sell your property.
Sell land for cash in Florida companies can often result in a faster close since they are cash buyers. This can also help you save on costs associated with inspections, appraisals and repairs. In addition, this option can allow you to avoid the costly probate process.
Selling Land in the Sunshine State: Why You Can Rely on Florida’s Top Land Buying Company
A Florida land trust separates legal title and equitable ownership of a parcel of real estate or personal property. The trustee holds the legal title to the property in a fiduciary capacity, while the beneficiaries hold the beneficial interest. The beneficiaries can use the property, and they are entitled to income and gain from the property investment; they also bear the risk of economic loss from a bad investment.
Unlike traditional joint tenancy, land trusts can be used to avoid probate, simplify transactions, and provide asset protection. For federal tax purposes, land trusts are typically treated as “grantor trusts.” As such, all of the income and deductions related to the property pass directly through to the beneficiaries, avoiding double taxation. A Florida land trust can be created by a single person, or jointly by two or more persons. The grantor can be a revocable or irrevocable trust, limited partnership (LP), limited liability limited partnership (LLLP), corporation (LLC) or Florida asset protection trust.