Illinois land trust

Definition of "Illinois land trust"
  1. A type of legal entity where a trustee holds and manages an estate in land on behalf of beneficiaries, specifically established within the state of Illinois
How to use "Illinois land trust" in a sentence
  1. The beneficiaries considered establishing an Illinois land trust as part of their real estate investment strategy.
  2. Transferring the property into an Illinois land trust helped in simplifying the process of estate planning.
  3. An Illinois land trust can provide a form of privacy since the beneficiaries' identities are not publicly accessible.

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