Combined Inter Vivos and Land Trust
What are Combined Inter Vivos and Land Trust
When the title to the real estate is taken by the trustee the trustee has to hold this and use it for the purpose which is stated in the trust. If there is any other property which has been given to the trustee and is not mentioned in the Combined Inter Vivos and Land Trust agreement, it does not fall under the jurisdiction of the agreement.
As per the Combined Inter Vivos and Land Trust agreement, the trustee receives a certain sum as payment for the services rendered for the work done due to the trust. The beneficiaries are the ones who need to pay the trustee the charges, fees as well as compensation.
As per the terms of the Combined Inter Vivos and Land Trust the beneficiary or beneficiaries have the power that they should direct the trustees and deal with the property title. They also manage, use, possess and control the property as well as whatever earnings and proceeds that are available from the lease as well as from sales, mortgages and other property related dispositions.
When the beneficiary dies, the interest which has been accrued is passed on to the administrator or the executor and not to his or her heirs. The beneficiary also does not have the right or interest of the title of the property and the trust does not terminate at the death of the beneficiary.
These are some of the terms and conditions which are mentioned in the Combined Inter Vivos and Land Trust
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