I'm not too concerned after the fact but I don't broadcast my business anyway so that's not a factor. I have a trust set up for children with an attorney set up as trustee and could use it with some changes but that is probably the route to go for me anyway because it - the property, will be included in the trust.

It is several different parcels with some family and some not family and just to make a smooth transition it would be better bought quietly. Some might balk if ownership was known prior - maybe not but it's just a better route because it is a lot of players involved and a substantial sum of money. Enough that if I'm willing to fork out I want to make sure it works.

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Posted by Poodlebrain

Way Right of Rex

Member since Jan 2004

19860 posts

Posted on 10/12/15 at 5:20 pm to Martini

Having been involved with a casino company trying to buy up many adjoining parcels of land I can tell you that it is tough to time all of the purchases so that some property owners do not hold out for a higher price having learned of all others parcels being bought. We had to pay for options to buy knowing the cost of the options would be less than the increased prices if our intentions became known. Then we only purchased the land once we got options on all that we desired.

A lot will depend on how much communication occurs among the owners of the various target properties. If they discuss receiving offers they can pretty much figure out what is going on, and use the information to their benefit. Nondisclosure agreements may help, but they are no guarantee, and they cannot prevent holdouts by those who are not parties to the nondisclosure agreements.

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