Legal Question in Real Estate Law in Massachusetts
real estate trust
to protect a property from creditors or from people knowing who owns it please tell me what kind of trust would apply.
thank you
3 Answers from Attorneys
Re: real estate trust
Would you like me to put some real estate into trust for you?
Re: real estate trust
What are you trying to do? Any specific fear you have? -- Stuart Williams, tel. (617) 527-0050.
Re: real estate trust
Massachusetts has a variety of real estate trusts and the like, which we call title-holding entities. There's a decision tree for choosing the one best for a particular set of needs.
The most popular choice is unique to Massachusetts; it is called a "nominee trust"; one major purpose of such a trust is to keep information about the true owner of real estate out of the public records, which is does quite nicely.
I set up nominee trusts for my clients quite routinely. Besides privacy, they are also useful for certain estate planning and asset protection needs. I sometimes use other entities, though.
If you are doing so for creditor protection, that would engender a discussion. What creditors and upon what grounds might such creditors try to attach your property? There may be some alternatives to consider, or it may be that a nominee trust is exactly what you need.
You may call me toll-free if you like, at (888)527-0050 during business hours if you're serious about doing something with your property.