Individuals: One individual holds property under an “unmarried” status to attest that there is no community property interest or under a “married” status with the accountholder declaring the assets as sole and separate property.
Joint Tenants: Two individuals hold property jointly with rights of survivorship.
Self-Directed IRA / Keoghs: An Individual Retirement Arrangement (IRA) allows a person to save and invest money for use in retirement while deferring or eliminating taxes on the account’s earnings. A Keogh plan is much like an IRA but is only available for people who are self-employed. IRAs have custodians or trustees, as do Keoghs. Vesting must always be in the name of the custodian or trustee for the benefit of the accountholder. Many traditional IRA custodians do not permit alternative investments such as Trust Deeds. Please consult with your Investment Agent for further assistance.
Pension Plans: These plans invest the retirement funds of their members and take title in the name of the pension plan.
Trusts: Investments are held in the name of a family trust, testamentary trust, charitable trust, or an irrevocable trust and are controlled by the trustee, who must be authorized by the trust document to enter into and manage transactions.
Corporation: The purchase of an investment vehicle by a corporation requires corporate authorization. Therefore, bylaws or a corporate resolution authorizing transactions are required.
General Partnership: All partners can bind the partnership and all partners are liable for partnership debts if the partnership itself fails to pay. Title is held in the name of the Partnership.
Limited Liability Company (LLC): Similar to a partnership, only without the personal liability of a general partner. LLCs are composed of “members”, one or more of which is a “managing member” with authority to contractually bind the LLC. Title is held in the name of the LLC.
Limited Partnership: Consists of one general partner and many limited partners. Only the general partner can bind the partnership, and only the general partner is liable for partnership debts if the partnership itself fails to pay. Title is held in the name of the Partnership.
