When you open a Land Trust, you benefit from the following advantages:

• Avoid probate expense and delay.
• Succession of ownership.
• Use the interest as collateral.
• Privacy of ownership.  
• Disposing of part interest.  
• Ease of transfer of ownership.
• Quit-claim transfer out of joint tenancy.  
• You avoid liens upon your title.  

A Land Trust can be created with a minimum amount of time and effort. Title is conveyed to Old Second, as Trustee, by a Deed in Trust. The parties enter into a Trust Agreement with the Bank, which states who the beneficiaries are and who will have the power to direct the Trust. The Bank, as Trustee, will deal with the property only upon written direction of the parties who have the power to direct the Trust.

If you would like to learn more about Land Trusts…just contact us at 630-906-2000.