Borrowing Through a Land Trust
I have a borrower who asked me if he could "borrow in the name of a 'land trust'..."
He briefly explained some of the nuances, and when I asked him why he did this he said, "It protects us a little better than a LLC..."
Does anyone have any experience with this?
The borrower tells me his LLC, and his brother's, fall under the land trust. But as a lender, we need SOMEONE we are lending to.
Advice appreciated. I won't hold you to any incorrect legal advice :-)