LAND TRUST
A legal agreement comprised entirely of real estate assets; the land owner will appoint a trustee or board of trustees to manage the real estate for the benefit of another party (the beneficiary of the trust) and to maintain ownership of the real property. Nonprofit organizations use them for conservation purposes; companies and investment buyers use it to acquire privately large property holdings for their expansion and to avoid publicity; and individuals typically use it to avoid probate and for privacy.
Can also be known as Illinois-type land trusts.
POPULAR TERMS
Target Return
Pricing model used in valuing a business based on what an investor expects from any capital invested in the firm. It is computed by adding the amou ...
Remainder Man
An individual who receives the remaining principal in a trust account after all required payments have been made, such as those to the beneficiary ...
Average Collected Balance
The total average of the collected funds in a bank account in a month. The balance is calculated by adding the collected balance and dividing it by ...
Bankable Funds
Forms of payment that are accepted at financial institutions. Retailers and other organizations that directly accept payments from customers typica ...
Prudent-Person Rule
A legal maxim that restricts the discretion in a client's account to investments that a prudent person seeking reasonable income and preservati ...
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