September 22: Ownership Options

What are the different ownership options that might be right for you?  During our September webinar, Dr. Cushing reviewed the different options, what are the pro and cons and what you should think about when evaluating these different options.  Did you miss the webinar?  Check the recording and presentation slides.

During this webinar, the following ownership options were reviewed:

• Sole Ownership/Fee Simple
• Joint Ownership With Right Of Survivorship
• Tenancy In Common
• General Partnership
• Family Limited Partnership (FLP)
• Limited Liability Corporation (LLC)
• S Corporation
• C Corporation
• Revocable Living Trust
• Irrevocatble Living Trust

We've also developed a chart to help you evaluate these different options so you can look at each one and examine:

• What it means for who are the decision makers/land managers
• How does the land transfer to the next generation
• Does it involve probate
• Cost
• Complexity
• Who has liability
• Is a professional needed to set up
• Can a sale of the land be forced
• What is the lifetime of the ownership type