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Why should you look into a Land Trust?

An Integra Bank, N.A. Land Trust is designed to enhance and simplify the process of owning, selling or transferring real estate assets, whether large or small. Through a Land Trust, the legal title to real estate is held by Integra Bank, N.A. on its customers' behalf. The customer is known as the trust beneficiary. This simple change in title produces many benefits not available to individuals whom hold title to real estate in their own name.

The Benefits of a Land Trust

If you own real estate - a family home, apartment building or office space - a Land Trust offers so many advantages. When your property is put into a Land Trust, you (as the beneficiary) retain complete management and control over the property. Yet, you eliminate many of the inconveniences, which can be involved in buying or selling real estate.

Avoid the expense and delay of probate.

Probate can be costly and time-consuming, often taking a minimum of six months. With a Land Trust, however, your property passes to your designated beneficiary(ies) upon your death. For many people, that's a comforting thought.

Protect your privacy.

Land Trusts offer considerable privacy. Unless specifically required by statute or legal process, we do not reveal the ownership of any property held in trust. In today's increasingly invasive society, our clients appreciate that.

Transfer property easily.

A Land Trust interest can easily be transferred or sold. And, because your interest has the legal characteristics of personal property, it can even be used as collateral for a loan.

Benefit from a Land Trust...no matter what you own.

Any property owner should consider the protections and advantages a simple, inexpensive trust offers. From individuals to groups, partnerships to corporations, an Integra Bank Land Trust provides protections and benefits to suit your needs. We would be pleased to work with you and your professional adviser to design a Land Trust tailored just for you.

Key Land Trust Terms

Beneficiary

One who benefits from the acts of another. For the purposes of the trust discussed here, you are the beneficiary.

Personal property versus real property

The interest you retain in a Land Trust is considered personal property. Personal property is kind of a catch-all category for property that is not land.

Probate

Probate is a court procedure through which a will is administered. Today, it is often costly and time consuming.

Trust

A trust is an arrangement whereby "legal" and "equitable" title to property are separated. The trustee (in this case Integra Bank) holds legal title to the property for your benefit. The trustee must always act in your best interest and, with an Integra Bank Land Trust, you retain complete control over your land.