I found some good links here

explaining what a land trust is

http://fullcountservices.com/living-land-trust.htm

and some pros & cons

http://www.nuwireinvestor.com/

I was actually talking with a lawyer today

he never heard of the term " land trust "

He referred to its irrevocable-living-trust

http://www.answers.com/topic/irrevocable-living-trust