Has anyone ever tried putting shooting land into a trust?

[JR777]

I was wondering if anyone has ever tried buying some rural land and putting it in a trust with other people. It strikes me that about 20 people could go in together and buy a nice piece of land somewhere. Is there a reason why you never hear about it?

 

[MacFromOK]

Unless you're talking about a cash purchase, it would be hard finding 20 people that would make payments until it's paid off.

And even then, somebody (or a family member of theirs) will eventually be upset over something and throw a wrench in the works. Even petty stuff can make ya miserable.

Just my 2¢. Good luck.

 

[JR777]

Unless you're talking about a cash purchase, it would be hard finding 20 people that would make payments until it's paid off.

And even then, somebody (or a family member of their's) will eventually be upset over something and throw a wrench in the works. Even petty stuff can make ya miserable.

Just my 2¢. Good luck.

We would buy the land and then sell shares in the trust.

 

[mr ed]

My brother inlaw did that to a hundred acres over in Arkansas
It was a mess when several got mad at each other and wanted to cash out at the same time.
Died penniless last year.

 

[JR777]

My brother inlaw did that to a hundred acres over in Arkansas
It was a mess when several got mad at each other and wanted to cash out at the same time.

What was the issue? Did the other trustees not like the people they were trying to sell their shares to?

 

[harley128]

You are asking for a mountain of headaches............ IMHO

 

[Mad Professor]

Do some thorough research on “partitioning lawsuits”. That’s where you will end up on the court system before it is over with.

 

[Louro]

All good advice...… I won't do it, even with family members... and I love my family. Just me.

 

[JR777]

What about making it into a gun club and selling memberships? Has anyone here ever tried that?

 

[mr ed]

What about making it into a gun club and selling memberships? Has anyone here ever tried that?

Might be able to Google. Oil capital gun club
however it was probably easier to set up 75 years ago when they did it.
Its anybody's guess of the legal battles they have had over the years.