*Must* Land Trust be in same State as property?

[Dave Row]

Hi, everyone. Question around Land Trusts and in-state Operating LLCs. When an in-state LLC is the beneficiary of a Land Trust, you have a legal entity that is recognized by the State (ie. the LLC) that can take action in court (eg. evict tenants).

This begs the question;  Why can't all of my Land Trusts, then, be formed in Wyoming?  The only thing that springs to mind is possibly scaring off lenders?  Would love to hear your thoughts.  Thx!  - Dave

[Dave Row]

Originally posted by @Patti Robertson:

Virginia requires any foreign entity to register as such and have an in state registered agent.  What is it that you are hoping to gain by registering in Wyoming?

Just consistency in managing trusts that hold property in multiple States. I know that a foreign LLC operating in a State must register in that State, but had not read that requirement for trusts. - Dave