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What is a land trust Chicago?

A land trust is a simple, inexpensive method for handling the ownership of real estate. The recorded deed to the real estate is held by a trustee, but all the rights and conveniences of ownership are exercised by the beneficiary.

What is an Illinois land trust?

A Land trust is a simple, inexpensive method for handling the ownership of real estate in Illinois. It is an arrangement by which legal title to real estate is transferred from you to a land trust with Home State Bank as trustee.

What does the Chicago title and trust Company do?

We can help consumers protect their private information by allowing homebuyers the opportunity to purchase real estate confidentially by using a Chicago Title Land Trust. This affords our clients the peace of mind that comes with knowing their personal information is safeguarded.

When did Fidelity buy Chicago Title?

Chicago Title Corporation achieved a major milestone in 1999 when it signed a definitive agreement on August 1 to be acquired by Fidelity National Financial, Inc., creating the pre-eminent company in the title insurance industry. The historic merger was finalized in March 20, 2000.

Are Chicago Title and Fidelity Title related?

Fidelity National Title Group is a member of the Fidelity National Financial (NYSE: FNF) family of companies and the nation's largest group of title companies and title insurance underwriters - Chicago Title Insurance Company, Commonwealth Land Title Insurance Company, Fidelity National Title Insurance Company, Alamo ...

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What is power of direction in a trust?

Power of direction . MEANS A POWER OVER A TRUST GRANTED TO A PERSON BY THE TERMS OF THE TRUST TO THE EXTENT THE POWER IS EXERCISABLE WHILE THE PERSON IS NOT SERVING AS A TRUSTEE. THE TERM INCLUDES A POWER OVER THE INVESTMENT, MANAGEMENT, OR DISTRIBUTION OF TRUST PROPERTY OR OTHER MATTERS OF TRUST ADMINISTRATION.

When property is placed in an Illinois land trust the property title is held by the?

Kotz in 1920, Illinois Courts have upheld the entity as a legal manner of holding real estate. In essence, a land trust is a simple trust which vests in a trustee the title to the property and the power to convey or deal with the property at the direction of the trust beneficiary.

What is a direction to convey?

A power of direction refers to persons or entities having the authority to direct the trustee to convey, execute a mortgage, distribute proceeds of sale or financing, and execute documents incidental to the execution of a land trust.

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