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Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 40993
Experience:  Texas Attorney for 30 years dealing in real estate
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I am from PA and had a question about setting up a land

Customer Question

Customer: I am from PA and had a question about setting up a land trust. Is there an annual fee for the land trust? Also, someone said that the state requires the land trust owner to report who the beneficiary is. Can I set up 2 trusts? I would be the beneficiary.
JA: Thanks. Can you give me any more details about your issue?
Customer: I am buying a home to start my investments. I want to set it up properly. I think the land trust is the best way to go.
JA: OK got it. Last thing — JustAnswer charges a fee (generally around $18) to post your type of question to Real Estate Law Experts (you only pay if satisfied). There are a couple customers ahead of you. Are you willing to wait a bit?
Customer: Yes
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Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. Can you tell me what state you are in here so I may research this..

Customer: replied 1 year ago.
Expert:  Ray replied 1 year ago.

Thanks for your follow up.

Attorney fees for preparing a land trust can range from a few hundred to over a thousand dollars. Land Trust Service Corporation charges either $300 or $500 to set up a trust (depending on how much personal phone time you desire) and to be your trustee for the first year. Future years are $100.

There are also land transfer fees here in PA for any property you transfer into the trust.There are many advantages to such a trust but there are costs here as well.

Expert:  Ray replied 1 year ago.

More about the PA land trust association..

These are very popular here in PA...

I appreciate the chance to help you today.Thanks again and happy holidays.