An LLC, trying to help raise Equity Capital to purchase an REO Family Ranch for a Non-profit 501 (c) (3) for Abused & Battered Mothers w/small children.Need help firstname.lastname@example.org
California land trusts are usually for conservation of undeveloped land or farmland, sounds like you intend to operate a shelter; you might try California Council of Land Trusts for more info at http://www.calandtrusts.org
1 found this helpful
1 lawyer agrees
Estate Planning Attorney
You are asking a perfectly valid and fair question. But, here's the problem. It's very difficult for an attorney to answer your question, because it assumes a particular solution is the best way to achieve your goals.
It's kind of like calling a doctor and asking "which antibiotic do I need to take in order to get rid of this rash?" The answer might not be an antibiotic, so it's hard for the doctor to answer the question.
Honestly, you are going to have to sit with an attorney and describe what you want to have happen and then have the attorney tell you the various options for getting that result.
I applaud your efforts, and I think you are doing a good thing. But, there are a lot of factors that go into this. Mainly, I'm concerned about the relationship between the LLC and the 501(c)(3). There are many issues there. Again, I think you're going to need a lawyer to sort this out.
This is legal information only and not meant to provide legal advice. Many issues that seem straightforward at first are often complicated by facts not revealed in a hypothetical posed by a member of the public. You should always consult directly with your attorney in order to ensure the issue is thoroughly discussed and that the proper course of action is taken.
2 lawyers agree
A land trust is like an ordinary revocable trust. The trustee holds title to the land for the benefit of the beneficiary. It's not a matter of qualifying if I am correctly understanding your question. It is simply a matter of drafting appropriate documents.
1 lawyer agrees