Personal Property Trust
A Personal Property Trust (PPT) is similar to a land trust or living trust in that a Personal Property Trust is a form of a revocable trust. The primary object of a Personal Property Trust is not asset protection, but to furnish as much privacy as possible to discourage or even avoid meritless litigation. A PPT is a very effective tool which can be utilized in a variety of methods and affords key advantages.
The beneficial owners of a Personal Property Trust are not a matter of public record. Meaning, a PPT provides what could be termed a “double-blind” veil of invisibility in that the trust agreement is neither formed nor recorded with any state agency. So with only a generic trust name from which to begin an investigation, potential creditors are quickly discouraged at the thought of having to unearth the proper ownership identity and location from a countless number of such trusts. Whatever assets have been placed into a PPT, such as bank accounts and securities, entity ownership, the beneficial interest to land trusts, mortgages and options, or even motor vehicles, affords the owners tremendous privacy.
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