I own a trust with my sister (50/50). She has 2 kids, and I have 3. We have land that is owned by this trust, it is an LLC. I want to build a house and a farm on this land with my own money.
It is possible to have ownership of land separate from the buildings. However, you are going to want to be very careful about how you set this up and will want to get advice from a real estate attorney in your area on how best to structure this.
My answer is for general information only and does not imply that any attorney-client relationship has been created.
I agree that you need to speak with a local real estate lawyer before you make any steps toward doing this. Use Avvo's Find a Lawyer feature or contact your local bar association for a referral. Good luck.
Answer given for general advice and is not a legal opinion, which would require an analysis of the facts and circumstances as well as the applicable law and regulations.
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