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Prepared by, and after recording return to: MULTIFAMILY MORTGAGE, ASSIGNMENT OF RENTS AND SECURITY AGREEMENT(ILLINOIS LAND TRUST REVISION DATE 41003)THIS INSTRUMENT IS NOT TO BE USED MULTIFAMILY PROPERTIES
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An Illinois land trust is a legal arrangement where a property owner transfers legal title of their property to a trustee, while retaining beneficial ownership rights.
Property owners who want to utilize the benefits of privacy, asset protection, and estate planning may choose to file an Illinois land trust.
To fill out an Illinois land trust, property owners need to transfer legal title to a trustee, specify beneficiaries, and comply with state regulations.
The purpose of an Illinois land trust is to provide privacy, asset protection, and estate planning benefits to property owners.
Information such as the legal description of the property, names of trustees and beneficiaries, and specific terms of the trust must be reported on an Illinois land trust.
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