assignment of beneficial interest in land trust

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Land trust with assignment of beneficial Interests

• protects your privacy, avoids probate court costs after death,
• names beneficiaries and a trustee to uphold any income allocation to the beneficiaries as needed,
• transferable to new beneficiaries easily, without having public record,
• facilitates multiple ownerships for clear and easy division, and, helps you retain seniors’ exemptions.

More about Land Trusts:

• Why should I get a land trust for my estate?    
• How is having a land trust easier than just having a will?  

Table of Contents

When can i set up a land trust.

In most cases with multiple heirs, one or more of the heirs waives their rights to the property to avoid a disagreement. It is unfair that one of your children pays for the upkeep, taxes and other expenses associated with the property. Then when the property is sold, all your children expect to share the proceeds evenly. This usually makes tax payments go unpaid, and homes go into disrepair.

What are the benefits of doing a Land Trust?

Probate costs can range from several thousands of dollars to tens of thousands of dollars! It’s unfair to have one of your children pay this cost upfront, and then evenly divide the estate in it’s entirety. These types of disagreements can really split up family. With a trust, the trustee is obligated to distribute the proceeds from a sale evenly eliminating probate court costs.

There are a lot of benefits to having a land trust. One is anonymity. A lot of debt collectors and other interested parties such as business organizations interested in collecting on loans from a business etc. Cannot see who are the beneficiaries to the trust. It is not public information. Another reason is that after you pass, your heirs or beneficiaries will have to go through probate which is costly, from thousands to tens of thousands of dollars, and have waiting time during that process. With a land trust, your home is already transferred to them as owners upon your death, where they will avoid that costly probate process.

There is a trustee named, to carry out the details in the trust, and disburse assets along with other duties, and there are heirs which are further responsible for the property itself.

Debts are usually assigned to a person, an entity or placed as a lien or judgments on a home. No, debts are not usually assigned to land trusts, but some judgements can name the beneficiaries of a person as the parties being sued.

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Assignment and Transfer of Beneficial Interest In A Land Trust

I took your course some years back.  All the names below are just examples.  What goes in the ????? area?

ASSIGNMENT AND TRANSFER OF BENEFICIAL INTEREST IN LAND TRUST

Joseph A. Seller, the undersigned, being the owner(s) of 100% of the beneficial interest in a Land Trust created pursuant to a Trust Agreement dated December 18, 2019 and known as Palm Trust which names Marcos Helper as the Trustee, hereby assign, transfer, and convey 100%  of our interest of the beneficial interest in said Land Trust over and unto Dream Properties LLC., and hereafter, subject Land Trust and _____????????_____________shall be entitled to all of the rights of the beneficial owner and shall be required to perform all of the duties and meet all of the obligations of the beneficial owner of said Land Trust.

It is also acknowledged that the power of direction is held as follows:

Joseph A. Seller   –                       100%

Hereafter the power of direction shall be held as follows:

Dream Properties LLC.   –   100%

Dated this 18th day of December, 2019.

____________________________

Joseph A. Seller, Beneficiary

Marcos Helper, Trustee

ACCEPTANCE OF ASSIGNMENT

The undersigned, Marcos Helper, hereby accepts the above assignment, and agrees to be bound by the terms, covenants and conditions of said Trust Agreement.

Dated this 18th day of December, 2019

__________??????????______________________

THIS DOCUMENT IS NOT REQUIRED TO BE RECORDED IN ANY COUNTY RECORDER’S OFFICE

Joe, the first blank is for the name of the new beneficiary

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• Practical Law

New standard document on deed of assignment of beneficial interest in land

Practical law uk legal update 4-591-5405  (approx. 2 pages).

Protocol appended to the treaty of peace concluded between Finland and The Union of Soviet Socialist Republics on March 12, 1940

  The contracting parties confirm the following arrangement for cessation of hostilities and the withdrawal of troops beyond the national boundary established by the peace treaty: 1. Both sides shall cease hostilities on March 13, 1940, at 12:00 noon Leningrad time. 2. As from the hour fixed for the cessation of hostilities there shall be established a neutral zone, one kilometer in depth, between the positions of advanced units, whereupon within the course of the first day forces of that party to the treaty which under the new national boundary find themselves in territory pertaining to the other party to the treaty shall withdraw one kilometer's distance. 3. Withdrawal of troops beyond the new national boundary and advance of the troops of the other party to this national boundary shall commence on March 15 from 10:00 A.M. along the whole frontier from the Gulf of Finland to Lieksa, and on March 16 from 10:00 A.M. at points north of Lieksa. Withdrawal shall be effected through daily marches of not less than seven kilometers, the advance of troops of the other party taking place in such fashion that there shall be maintained between the rear guard of the withdrawing troops and the advance units of the other party to the treaty an interval of not less than seven kilometers. 4. The following time limits are established for withdrawal, on various sectors of the national boundary, in accordance with Paragraph 3: a) In the sector compromising the upper course of the Tuntsajoki River, Kuolajärvi, Takala, and the eastern shore of Lake Joukamojärvi the movement of troops of both parties to the treaty shall be completed on March 20, 1940, at 8:00 P.M. b) In the Latva sector south of Kuhmonniemi, troops movements shall be completed on March 22, 1940, at 8:00 P.M. c) In the Lonkavaara, Värtsilä and Matkaselkä station sector, troop movements of both parties shall be completed on March 22, at 8:00 P.M. d) In the Koitsanlahti sector at Matkaselkä station, troop movements shall be completed on March 25, 1940, at 8:00 P.M. e) In the Esno station sector at Koitsanlahti, troop movements shall be completed on March 25, 1940, at 8:00 P.M. f) In the Paationsaari sector at Esno station, troop movements shall be completed on March 19, 1940, at 8:00 P.M. 5. Evacuation of troops of the Red Army from the Petsamo area shall be completed by April 10, 1940. 6. The command of each party to the treaty undertakes, while troops are withdrawing to the other side of the national boundary, to put into effect in the cities and localities to be ceded to the other party necessary measures for their preservation undamaged, and to put into effect measures necessary to the end that cities, localities, and establishments of defensive and economic importance (bridges, dams, airfields, barracks, storehouses, railway communications, industrial plants, telegraphs, electric power plants) shall be preserved from damage and destruction. 7. All questions which may arise upon the cession by one contracting party to the other of the areas, localities, cities, or other objectives referred to in Paragraph 6 of this protocol shall be settled on the spot by representatives of both parties to the treaty, for which purpose the command shall appoint special delegates for each main route of movement of both armies. 8. The exchange of prisoners of war shall be carried out in the briefest possible time after the cessation of hostilities on the basis of a special agreement.      March 12, 1940  

Source: Max Jakobson;"Finland Survived, An Account of the Finnish-Soviet Winter War 1939-1940", second edition, 1984, the Otava Publishing Co., Finland

Ch. 9 The Development of Russia

Ivan i and the rise of moscow, learning objective.

• Outline the key points that helped Moscow become so powerful and how Ivan I accomplished these major victories
• Moscow was considered a small trading outpost under the principality of Vladimir-Suzdal into the 13th century.
• Power struggles and constant raids under the Mongol Empire’s Golden Horde caused once powerful cities, such as Kiev, to struggle financially and culturally.
• Ivan I utilized the relative calm and safety of the northern city of Moscow to entice a larger population and wealth to move there.
• Alliances between Golden Horde leaders and Ivan I saved Moscow from many of the raids and destruction of other centers, like Tver.

A rival city to Moscow that eventually lost favor under the Golden Horde.

Grand Prince of Vladimir

The title given to the ruler of this northern province, where Moscow was situated.

The Rise of Moscow

Moscow was only a small trading outpost in the principality of Vladimir-Suzdal in Kievan Rus’ before the invasion of Mongol forces during the 13th century. However, due to the unstable environment of the Golden Horde, and the deft leadership of Ivan I at a critical time during the 13th century, Moscow became a safe haven of prosperity during his reign. It also became the new seat of power of the Russian Orthodox Church.

Ivan I (also known as Ivan Kalita) was born around 1288 to the Prince of Moscow, Daniil Aleksandrovich. He was born during a time of devastation and upheaval in Rus’. Kiev had been overtaken by the invading Mongol forces in 1240, and most of the Rus’ principalities had been absorbed into the Golden Horde of the Mongol Empire by the time Ivan was born. He ascended to the seat of Prince of Moscow after the death of his father, and then the death of his older brother Yury.

Ivan I. He was born around 1288 and died in either 1340 or 1341, still holding the title of Grand Prince of Vladimir.

Ivan I stepped into a role that had already been expanded by his predecessors. Both his older brother and his father had captured nearby lands, including Kolomna and Mozhaisk. Yury had also made a successful alliance with the Mongol leader Uzbeg Khan and married his sister, securing more power and advantages within the hierarchy of the Golden Horde.

Ivan I continued the family tradition and petitioned the leaders of the Golden Horde to gain the seat of Grand Prince of Vladimir. His other three rivals, all princes of Tver, had previously been granted the title in prior years. However they were all subsequently deprived of the title and all three aspiring princes also eventually ended up murdered. Ivan I, on the other hand, garnered the title from Khan Muhammad Ozbeg in 1328. This new title, which he kept until his death around 1340, meant he could collect taxes from the Russian lands as a ruling prince and position his tiny city as a major player in the Vladimir region.

Moscow’s Rise

During this time of upheaval, the tiny outpost of Moscow had multiple advantages that repositioned this town and set it up for future prosperity under Ivan I. Three major contributing factors helped Ivan I relocate power to this area:

• It was situated in between other major principalities on the east and west so it was often protected from the more devastating invasions.
• This relative safety, compared to Tver and Ryazan, for example, started to bring in tax-paying citizens who wanted a safe place to build a home and earn a livelihood.
• Finally, Moscow was set up perfectly along the trade route from Novgorod to the Volga River, giving it an economic advantage from the start.

Ivan I also spurred on the growth of Moscow by actively recruiting people to move to the region. In addition, he bought the freedom of people who had been captured by the extensive Mongol raids. These recruits further bolstered the population of Moscow. Finally, he focused his attention on establishing peace and routing out thieves and raiding parties in the region, making for a safe and calm metaphorical island in a storm of unsettled political and military upsets.

Kievan Rus’ 1220-1240. This map illustrates the power dynamics at play during the 13th century shortly before Ivan I was born. Sarai, the capital of the Golden Horde, sat to the southeast, while Moscow (not visible on this map) was tucked up in the northern forests of Vladimir-Suzdal.

Ivan I knew that the peace of his region depended upon keeping up an alliance with the Golden Horde, which he did faithfully. Moscow’s increased wealth during this era also allowed him to loan money to neighboring principalities. These regions then became indebted to Moscow, bolstering its political and financial position.

In addition, a few neighboring cities and villages were subsumed into Moscow during the 1320s and 1330s, including Uglich, Belozero, and Galich. These shifts slowly transformed the tiny trading outpost into a bustling city center in the northern forests of what was once Kievan Rus’.

Russian Orthodox Church and The Center of Moscow

Ivan I committed some of Moscow’s new wealth to building a splendid city center and creating an iconic religious setting. He built stone churches in the center of Moscow with his newly gained wealth. Ivan I also tempted one of the most important religious leaders in Rus’, the Orthodox Metropolitan Peter, to the city of Moscow. Before the rule of the Golden Horde the original Russian Orthodox Church was based in Kiev. After years of devastation, Metropolitan Peter transferred the seat of power to Moscow where a new Renaissance of culture was blossoming. This perfectly timed transformation of Moscow coincided with the decades of devastation in Kiev, effectively transferring power to the north once again.

Peter of Moscow and scenes from his life as depicted in a 15th-century icon. This religious leader helped bring cultural power to Moscow by moving the seat of the Russian Orthodox Church there during Ivan I’s reign.

One of the most lasting accomplishments of Ivan I was to petition the Khan based in Sarai to designate his son, who would become Simeon the Proud, as the heir to the title of Grand Prince of Vladimir. This agreement a line of succession that meant the ruling head of Moscow would almost always hold power over the principality of Vladimir, ensuring Moscow held a powerful position for decades to come.

• Boundless World History. Authored by : Boundless. Located at : https://www.boundless.com/world-history/textbooks/boundless-world-history-textbook/ . License : CC BY-SA: Attribution-ShareAlike