Legal Question in Real Estate Law in Michigan

real estate and Land trusts

I would like to transfer my real estate into a land trust for myself, and make a trusted family member the beneficiary. Why? I don't want any potential judgements against me to attach to the property. Is this a good idea? I'm also hearing that land trusts are not legal in Mich. Is that true?


Asked on 10/06/08, 3:07 am

1 Answer from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: real estate and Land trusts

Land trusts do not exist in Michigan, so if this is Michigan real estate, you are going to want to put the property into either a living trust or some other entity like an LLC. Keep in mind, that there is a look back period for property transfers. So if you know you are about to have a judgment entered against you any time soon, this transfer could be viewed as a fraudulent transfer. You should consult an experienced Michigan Estate Planning attorney.

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Answered on 10/06/08, 11:48 am


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