Modern Land Trusts in Estate Planning

Modern Land Trusts in Estate Planning

In this complimentary CLE program based on an IICLE® publication, David Lanciotti of Chicago Title Land Trust Company and author of the Institute's MODERN LAND TRUST PRACTICE handbook (IICLE®, 2023) shares statutory and case law developments relating to land trust law and administration. Specific discussion topics include:

• the Land Trust Beneficiary Rights Act
• the inapplicability of the new Illinois Trust Code to land trusts
• recently decided cases regarding
  • the attachment of liens against land trust property
  • the homestead exemption when property held in land trust
  • death transfers and lapse issues
  • new legal and administrative requirements for the execution of land trust loan documents
  • applicability of after-acquired title provision of Conveyances Act to property conveyed into trust
  • the validity of conveyances made by a beneficiary
  • distinctions between titleholder and owners of land trusts

David Lanciotti, Chicago Title Land Trust Company