Business and a trust owning a property?

Business and a trust owning a property?

Investor · Member since 2022 · 11 posts · 2 votes

Hello everyone,

I have some questions regarding a business and a trust owning property together.



I currently own a LLC that I use to "own my properties" and do all the financial transactions. My grandmother passed away recently and has three properties in her trust that I am wanting to add to my business in order to gain equity and show more income. Currently my mother is the beneficiary of these properties but would like me to take them over to ensure they are taken care of and they have renters in them. The problem is she doesn't feel comfortable handing the properties over to my business allowing her to have no say at all over them anymore. So with this being said is there away my business and the trust could own the properties together so I can benefit from the equity/income and she can ensure she still has part ownership in the properties? I thought about adding her to my business but that is not an option since I own way more properties than these that I solely want to be the one responsible for them. Any suggestions would be greatly appreciated!!

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  • CPA · Miami, FL · Member since 2015 · 134 posts · 83 votes
    3y

    Hi Robert,

    There are definitely strategies to accomplish that. I would recommend you contact a real estate attorney who would be best suited to advise on this matter.

    Good luck,

    Ana B. Garcia, CPA, MSA, CTP

  • Investor · Member since 2022 · 11 posts · 2 votes
    3y
    Quote from @Ana Garcia:

    Hi Robert,

    There are definitely strategies to accomplish that. I would recommend you contact a real estate attorney who would be best suited to advise on this matter.

    Good luck,

    Ana B. Garcia, CPA, MSA, CTP


    Thank you for the reply !

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