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Updated about 9 years ago,
Buying Beneficial Interest in property in a land trust
My LLC is purchasing a rental house that is held in a land trust. As such, I am purchasing the beneficial interest, which I understand to be considered personal property versus real property in Florida, where the property is located. It is a cash, as-is sale. I've done a walk through and I had the property professionally inspected. What due diligence can I perform to be sure I am not taken advantage of? How do I know if my beneficial interest is the ENTIRE interest in the property?