Deeding from one land trust to another

[Brandon K.]

I keep my properties in land trust. I am interested to know if deeding a property from one land trust (with one LLC as trustee for flipping deals) to another (with a different LLC as trustee for buy and hold) is a taxable event. I am beneficiary on both land trusts. No real money is changing hands. My assumption is that there is no taxable event. Please advise (especially attorneys and CPA's).