Florida Land Trust Act

In essence what might be binding in one state would have no effect in another state.

Florida land trust act.

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. 2 definitions as used in this section the term. Creation and duration of florida land trust. For 32 years act has been instrumental to facilitating the conservation of over 53 000 acres of florida land.

Florida statutes 689 071 florida land trust act. 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. Each state has its own separate laws to govern its land trusts meaning that land trusts differ from state to state. 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.

A land trust does not fail and any use relating to the trust property may not be defeated because beneficiaries are not specified by name in the recorded instrument to the trustee or because duties are not imposed upon the trustee. The power conferred by any recorded instrument on a. 689 071 florida land trust act 1 short title this section may be cited as the 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. A beneficial interest means any interest vested or contingent and regardless of how small or minimal such interest may be in a land trust which is held by a beneficiary. 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.