Land Trust Agreement Template printable pdf download

LAND TRUST AGREEMENT

THIS LAND TRUST AGREEMENT is made this ____ day of ________________ 20___,

by and between

___________________________________________________, Grantor and Beneficiary,

(hereinafter referred to as the "Beneficiaries", whether one or more), and

_______________________________, TRUSTEE of the ______________________

LAND TRUST (hereinafter referred to as the "Trustee", which designation shall include all successor

trustees).

WHEREAS, the Beneficiaries are about to convey or cause to be conveyed certain real

property to the Trustee, and

WHEREAS, the Trustee has agreed to accept such conveyance and hold the real property in

trust under the terms and conditions set forth below.

NOW, THEREFORE, the parties, intending to be legally bound hereby, agree as follows:

TITLE.

The trust created by this instrument shall be known as THE

_______________________________ LAND TRUST.

OBJECTS AND PURPOSES OF TRUST. The purpose of this trust is for the

Trustee to take and hold title to the property conveyed to the Trustee and to preserve the same until its

sale or other disposition.

The Trustee shall not undertake any activity which is not strictly necessary to attainment of the

foregoing objects and purposes, nor shall the Trustee transact business within the meaning of applicable

state law, or any other law, nor shall this Land Trust Agreement be deemed to be, or create or evidence

the existence of a corporation, de facto or de jure, or a Massachusetts Trust, or any other type of

business trust, or an association in the nature of a corporation, or a co-partnership or joint venture by or

between the Trustee and the Beneficiaries.

TRUST PROPERTY.

The Beneficiaries are about to convey or cause to be

conveyed to the Trustee in trust certain real property as described more particularly in Schedule "A"

attached hereto and made a part hereof. This property, together with any property later added to the

trust, shall be designated as the "Trust Property". The Trustee will hold the Trust Property according to

the terms and conditions of this Land Trust Agreement for the purposes, terms and conditions contained

herein until such time as all of the Trust Property has been sold or otherwise conveyed, or until this trust

has been terminated. The Trustee shall maintain a list of the Trust Property, which shall be designated

as Schedule "B" under this Agreement.

Land Trust Agreement Template