Florida Land Trust Act

Each state has its own separate laws to govern its land trusts meaning that land trusts differ from state to state.

Florida land trust act.

D if the trust agreement for a land trust created before june 28 2013 is amended on or after such date to add to or increase the duties of the trustee beyond the duties provided in the trust agreement as of june 28 2013 the trust shall remain a land trust governed by this section only if the additional or increased duties of the trustee. Zimmerman kiser sutcliffe is a florida law firm specializing in bankruptcy creditor s rights corporate estate planning and probate labor employment litigation real estate tax and workers compensation landmark center one 315 east robinson street suite 600 orlando fl 32801. 2 definitions as used in this section the term. Any person or any corporation bank trust company or other entity that is duly formed under the laws of its state of qualification may act as trustee of a land trust.

689 071 florida land trust act 1 short title this section may be cited as the florida land trust act. A florida land trust is a great vehicle you can use to own real estate in florida whether you are a us citizen or foreigner. In essence what might be binding in one state would have no effect in another state. Alachua conservation trust is an accredited nonprofit regional land trust created to address the need of protecting critical natural lands from development and degradation in florida.

The power conferred by any recorded instrument on a. For 32 years act has been instrumental to facilitating the conservation of over 53 000 acres of florida land. Creation and duration of florida land trust. The florida land trust is a fully revocable grantor trust drafted specifically to buy hold finance and sell florida real estate or other personal property in a confidential or private manner pursuant to the florida land trust act that was adopted by the florida legislature in 2006.

Florida statutes 689 071 florida land trust act. This section may be cited as the florida land trust act. Land trust means any express written agreement or arrangement by which a use confidence or trust is declared of any land or of any charge upon land under which the title to real property both legal and equitable is vested in a trustee by a recorded instrument that. C land trust means any express written agreement or arrangement by which a use confidence or trust is declared of any land or of any charge upon land under which the title to real property including but not limited to a leasehold or mortgagee interest is vested in a trustee by a recorded instrument that confers on the trustee the power and authority prescribed in s.