How can I buy property without having my name on the deed?
Attorney Tom Olsen: Let’s go to Paul in Rockledge. Paul, you’re on News 96.5. Go ahead.
Paul: Hi, my name is Paul and I’m calling from Rockledge. I want to purchase some land and I want to do it, kind of, like Walt Disney style, where nobody knows who’s buying it. And I’m wondering how complicated is that as far us setting up a third party. I mean, I can easily get a friend to go in there and go buy it, but what happens once it’s bought? They’re going to say, “Okay, who owns it?” And I’m wondering-
Attorney Tom Olsen: Okay, so Paul, let me tell you this. If you were to form a corporation or an LLC here in Florida, those are public records. People could look at the name of that corporation and they would see who the owner is and that’s going to be you. So a corporation or a LLC is not necessarily answer for you. I think what it would have to be is some kind of private document and that would be a trust, Paul. You would have formed some kind of land trust to hold this piece of property for you, that would not be part of the public records and would not be available to people.
Paul: Okay, so it would be in somebody else’s name, but it would in fact be mine?
Attorney Tom Olsen: No, it would be in the name of a land trust. That land trust would have a neutral name, like ABC land trust that does not have your name anywhere in that land trust name and then the property would literally be owned by ABC land trust. People would see that name in the public records, but they would not know who was behind ABC land trust.
Paul: Okay, I see.
Chrissy: And Paul, ABC land trust puts you in complete control.
Attorney Tom Olsen: Yes, you would be trusting that trust and you would be in complete control, Paul.
Paul: All right, that’s what I like to hear. Thank you very much.