Land Trust

[Desi39]

Mother owns the property free and clear
I would like mother to create land trust ,put property in this trust ,would buy from this trust property @6%interest only
Rent back to mother @$2600.00 a month
Now I can claim on my tax return interest and other expenses
How to set this up and is it legal and acceptable by IRS

 

[Betty3]

Before you do something like this, I believe I would run it by a tax or trust attorney or at least a CPA.