Florida Land Trust Statute

What is a land trust in florida.

Florida land trust statute.

This section may be cited as the florida land trust act. Florida land trusts are specifically provided for in florida statute section 689 071. 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. Title xl real and personal property.

689 071 florida land trust act 1 short title this section may be cited as the florida land trust act. Chapter 689 conveyances of land and declarations of trust entire chapter. In a florida land trust real estate is conveyed from the grantor owner to a trustee who then holds both legal and equitable title to the property. A person who is entitled to receive the benefits or proceeds of a will trust insurance policy retirement plan annuity.

Section 071 florida land trust act. Title xl real and personal property. A proposal to alter the text of a pending bill or other measure by striking out some of it by inserting new language or both before an amendment becomes part of the measure thelegislature must agree to it. 689 071 florida land trust act.

2 definitions as used in this section the term. A florida land trust is a private agreement among several people to operate manage and hold legal title to florida real property florida land trusts operate under section 689 071 of florida law also known as the florida land trust statute or the florida land trust act a land trust agreement is a legal agreement under which the trustmaker appoints another. Section 689 09 and the statute of uses do not execute a land trust or vest the trust property in the beneficiary or beneficiaries of the land trust notwithstanding any lack of duties on the part of the trustee or the otherwise passive nature of the land trust. The 2019 florida statutes.

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. Terms used in florida statutes 689 071. 689 071 florida land trust act.