Land Trust Use in MD Question

[Peter S.]

A Land Trust can be used as a privacy barrier to separate you as the investor from the title. If combined with certain entities it can act as a stronger privacy barrier/asset protection. This is because you can put your property in trust without having to record the beneficial interest. You also have the ability to assign the beneficial interest without recordation. This is great for wholesaling in theory because you can purchase a property in Trust and then transfer the beneficial interest to another investor for a price. However, I read MD law concerning trusts and maybe I found a problem... Trust laws in MD affect trust formation....and they say that the beneficiary must be stated and recorded when you do the Deed to Trustee while recording the deed [Ann. 14-404 a (2)]. Which means beneficiary is known and recorded having no privacy benefit. Even worse it also states that "the beneficiary may not have any interest in trust property that can be assigned" [Ann. 14-402 a.(3)]...Which means beneficial interest cannot be assigned to someone else. If I'm reading this correct it defeats the purpose of a land trust for my uses as an investor/wholesaler and I should move on. Does anyone know if I'm interpreting the MD trust laws appropriately? Has anyone used Land Trusts in MD effectively? Have an attorney I could speak with? All help is appreciated. Thanks everyone!