Just about every week I get a call or email from a student (or prospective student) asking me if it is LEGAL to form a Land Trust in their state? Oftentimes they have been told by their attorney, accountant, or title company that the use of a Land Trust in their state is ILLEGAL!
To my knowledge, there are NO states that have outlawed the use of a Land Trust. While it is true that only a few states have authorized the use of Land Trusts by Statute Law (or court precedent), all the other states will allow the formation of a type of Land Trust via their Common Law trust principles.
For example, California does not have a specific Land Trust Statute, but it is perfectly legal to form a Land Trust using California law. Oftentimes, in California, Land Trusts are referred to as title holding trusts but they are merely the same as a Land Trust.
The next time some professional tells you, you can’t do that in this state, ask them to prove it by providing you book, chapter, and page of the State Law proving their assertion. Chances are, they will not be able to support their statement!