Massachusetts residents are fortunate to be able to take advantage of a vehicle to hold title to their real estate, known as the realty trust. This Realty Trust is specific to Massachusetts residents. The Realty Trust is basically a shell, and hides the ownership of your property. It is common to use your revocable or irrevocable trust to serve as the beneficial owner.
There are two main purposes for putting your home or other real property in a realty trust:
- Confidentiality — Since the beneficiaries are not listed publicly, the ownership of your property remains unknown to the public
- Ease of Succession — Transactions that involve property held by realty trusts do not have to be recorded with the Registry of Deeds.
Please note: the realty trust does not confer any protection from creditors, transfer taxes, gift taxes or estate taxes.