Do I have any rights to ground in a trust if I am currently leasing the ground?
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Do I have any rights to ground in a trust if I am currently leasing the ground?
I am currently leasing ground for farmland that I am also the beneficiary of in a
trust. I would like to take ownership of the land, but one of the other
beneficiaries also wants it.
Asked on December 13, 2017 under Estate Planning, Kansas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Leaving land, whether from a trust, a company (e.g. LLC or corporation), or an individual gives you no right to the land--i.e. no right to acquire, own, etc. it.
Trusts are controlled by their terms: if the terms of the trust give you the right to buy the land, you can do so, but not otherwise.
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