land trust
Definition from Nolo’s Plain-English Law Dictionary
An agreement by which a trustee holds ownership of land for the benefit of an individual or entity. Land trusts are often used by nonprofit organizations for conservation purposes, by large corporations to amass significant landholdings, and by individuals to keep their names out of the public records.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:18 pm
A trust in which the property in the trust is land or real estate.
