Land Trusts: Final Thoughts

Land Trusts:
Final Thoughts

We hope you have enjoyed this series on Land Trusts.  But alas; all good things must come to an end. We are wrapping up this series.  Then, we are going to take a couple of weeks off to compile this information into an ebook.  (Subscribe to this blog and/or follow us on Facebook or Twitter to be advised as to when this book is available.)  When we return, we'll be highlighting other  important Real Estate Law and Real Estate Investing subjects.  

Land Trusts: Summary of Advantages

Throughout this series, we have focused on all the advantages of putting properties into a Land Trust. To sum up, these advantages include:

1. Privacy: Using a Land Trust keeps property ownership private, and it keeps your name out of the public records.
2. Liability Protection: Using a Land Trust can help shield you from many frivolous lawsuits.
3. Protection from Judgements: A Land Trust helps protect your personal assets from being subject to a judgement.
4. Protection from Liens: IRS and other government judgements do NOT attach to property held in a Land Trust.
5. Avoiding Probate: Land Trusts help your assets pass DIRECTLY upon your death, rather than having to pass through probate.
6. Eases Transferability and Control: Property held in a Land Trust is much easier to sell, transfer, and manage.  This is especially true of "distressed properties," "under-water properties," and those in danger of foreclosure.
7. Minimizes Fees: Minimizes fees related to deed recording, transferring properties, title insurance, etc.
8. Eases Multiple Ownership: A Trust can have many beneficiaries.
9. Asset Protection: A Land Trust can help shield assets in case of ownership issues, such as bankruptcy or divorce.
10. Keeps Pricing Information Private:  A Land Trust helps protect your privacy regarding what individual parcels of land are worth.

Land Trusts: Summary of Concerns

1. You will need a Skilled Attorney: Few lawyers are experts when it comes to Land Trusts. You will need to find an attorney with skills and training in this area to receive the maximum benefits.
2. There are ongoing fees: A Land Trust will always have nominal ongoing fees associated with it.  After all, few Trustees are willing to do the job for free.
3. Privacy May Be Revealed with a Court Order: Although a Land Trust makes it more difficult to determine ownership, a Court can order ownership information be disclosed.
4. May Only Hold Real Property as Assets: Other forms of trusts allow multiple types of assets to be held by the trust.  A Land Trust, however, may ONLY hold real estate as assets.
5. Statutes Vary by State: Only a few States have their own, specific statutes regarding Land Trusts.  Their validity in other States relies on Case Law.  However, in those states that HAVE specific laws, you must ensure you follow them to the tee, or the Land Trust may not be valid.  Again, this is where engaging a skilled attorney is of supreme importance.

Land Trusts: Should I use One?

The choice to use a Land Trust is very individual.  No one can say definitively whether a Land Trust is the investment vehicle for you.  In writing this series, we hope we have equipped you with the tools and information you need to make this decision for yourself.  If you are leaning towards "yes," we suggest you gather your own information and documentation, and you meet with a skilled Land Trust Attorney in your area.  (If you live in the New York-Connecticut area, we'd be happy to meet with you to discuss your individual circumstances.  We offer free consultations for these purposes.)  

Again, we believe in Land Trusts.  We use them ourselves.  And as we branch out into property investments to enhance our own personal portfolio, we have begun using Land Trusts even more.  We want to invest in our own community, and we know that using Land Trusts are our most effective way of doing so.  And we live in a State that is using Land Trusts to revitalize neighborhoods and to provide affordable housing to our local workforce.  We have seen how effective Land Trusts can be, both on an individual and an organizational level.

Whether you already own real property, or there is property you have your eye on, we suggest you identify an attorney to help you now.  Having an attorney you know and trust will ease the process as you begin to accumulate property.  And you will need to interview this attorney to ensure s/he has the skills and knowledge you need.  Pick a few items from this series and use them as the basis for your interview questions.  If your prospective attorney cannot answer them to your satisfaction, move on to a lawyer who can.  

Final Thoughts

Again, we welcome your comments and feedback, whether you have been with us from the start or you are just finding this series now.  You can always find us through our website, hartelawoffice.com. We are also active on Facebook and Twitter.  We are also interested in what you would like to see in upcoming blog posts.  Do you have a burning question in the area of Real Estate Law?  Is there any topic you'd just like to learn a little more about?

Stay tuned for details on our Land Trusts e-book!

Geofeedia: Using Social Media Against You

Geofeedia:

Using Social Media Against You

Every day, we seem to read about another person busted for their Facebook activity.  Ever wonder how the police find these posts?  There is a new tool in town that many police forces are using monitor social media.  Called Geofeedia, the tool bills itself as a “location based social media platform.” 

Their website boasts “Every day, social media users are posting important content from your locations without using the “right” keywords or hashtags. Unlike traditional social listening tools, Geofeedia runs social media search by location first — rather than by specific words (such as keywords or hashtags). The result? Geofeedia’s data set contains the hidden 70%+ of social data coming from locations, compared to traditional tools that only rely on certain words to create their data sets.”

Geofeedia is actively marketing to local police forces: “Discover, engage, and analyze social media data to prevent crime, track suspects, and investigate evolving situations in real-time”. Their website goes on to say: “GET ACTIONABLE INTEL. See what’s happening in real time and search historical data in critical locations to better understand, react to, and prevent issues.”

The tool allows local police to track ALL social media posts from a given location range.  Geofeedia has recently been raising capital for expansion. They are actively marketing their software to police departments, citing the successful use in California, Florida, New Jersey, Michigan, and Illinois.  They even offer a mobile app to make it easier to monitor people “on the go.”

Geofeedia allows the police to pull up a map and draw a circle on it. The tool then monitors ALL social media posts being made from within that circle.  The tool indexes ALL posts, photos, and videos, regardless of keywords and hash tags.  It allows police to monitor and track activity and/or individuals. They can set up alerts for keywords, users, or subjects.  They can also obtain contact information for the individuals posting.

This means that the Police can draw a circle around ANY local event and then monitor that event for posts or photos that may mention “illegal activity.”  This activity can include such things as “Managed to sneak a flask into this no alcohol allowed event,” or “Should have stopped drinking an hour ago. Now I have to drive home.”  They then can intercept the posters to arrest them for the activity mentioned in their posts.  They can also use Geofeedia to scan for potential witnesses to the activity.  They can contact that witness on the scene, or use Geofeedia's tools to obtain the contact information of that witness at a later time.

The Ocean County Police Department currently uses the tool to actively scan for cyberbullying.  The Manatee County Police Department searches for photos that include “gang signs” or possible illegal weapons.   The Los Angeles County Sheriff’s Office uses it to monitor for possible gang activity and fights.  Of course, these are just the uses the police advertise.  There are many other ways the tool can be used to monitor individuals, groups, and activities.  Big Brother has arrived.

If you are a Facebook, Instagram, Twitter, or Vine user, the police may already be monitoring your posts.  Post that photo of your Marley Blunt, and the police may be ringing your bell before you've even finished smoking it.

And unfortunately for the Social Media User, this evidence is admissible in court.  The Courts have already ruled that social media may be used against an individual without violating his constitutional rights.  There is no legal expectation for privacy on a public platform.

Like with any technology product, when one becomes successful, copy cats begin to arise.  This means we can expect competitors to start cropping up, competitors who may develop more robust tools than the one Geofeedia already has.

In the past, the courts have demanded Social Media passwords once a single admissible post has been discovered.  That means they can subpoena your entire Facebook history from Facebook itself, including posts you have since deleted. 

Do NOT allow your own posts to be used against you.  Be aware that Geofeedia is adding new police departments to its customer roster on a daily basis.  And if you find such a tool being used against you, either as a participant or as a potential witness, be sure to protect yourself by contacting an attorney IMMEDIATELY.