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How to buy real estate anonymously?
Posted on 10/11/15 at 7:41 pm
Posted on 10/11/15 at 7:41 pm
I have a couple pieces I'm looking to purchase but want it to be quiet. I'm assuming I can set up an LLC and use a registered agent? This way I would not show up on any documents such as secretary of state.
Anyone have experience in this because I know it is frequently done.
Anyone have experience in this because I know it is frequently done.
6
Posted on 10/11/15 at 9:15 pm to Martini
If you have an LLC I think you are still listed online as an "incorporator" of the LLC at least in Arkansas
Here is a random LLC
Here is a random LLC
Posted on 10/11/15 at 9:21 pm to Porker Face
Well that is only officers or directors. I'm in a couple of LLC that I'm not listed nor is stock issued. I believe the registered agent might be enough. But that is what I'm looking for.
Posted on 10/11/15 at 9:33 pm to Martini
If you are the only member of the LLC then you will still be on LAs SOS website, along with your registered agent.
Unless there is someone you trust to hold the property and own the LLC I don't know how to hide it.
Also, LA does not recognize Land Trusts so that isn't an option.
Unless there is someone you trust to hold the property and own the LLC I don't know how to hide it.
Also, LA does not recognize Land Trusts so that isn't an option.
This post was edited on 10/11/15 at 9:39 pm
Posted on 10/11/15 at 9:54 pm to Martini
Yes. This can be done. If Walt Disney could do it 50 or 60 years ago, I assure you that it's possible today.
Talk with a lawyer.
Talk with a lawyer.
Posted on 10/12/15 at 6:40 am to I Love Bama
No offense, but why? Why do you care who knows. You breaking a non compete or something?
Posted on 10/12/15 at 8:25 am to GeeOH
There are a million reasons why someone would do this.
Posted on 10/12/15 at 8:42 am to I Love Bama
Hence my question
Posted on 10/12/15 at 8:56 am to GeeOH
If I am trying to develop a walmart and their are multiple parcels I need to acquire, if you own one of those parcels and find out that Walmart owns all but yours, what will you do? Sell it to me at a fair price or triple it?
This post was edited on 10/12/15 at 8:57 am
Posted on 10/12/15 at 9:11 am to I Love Bama
Classic holdout problem.
quote:Depending on the land, triple is pretty generous on your part.
triple it?
Posted on 10/12/15 at 9:20 am to GenesChin
Could be as simple as OP wanting to buy an apartment to bang whores in and not letting his wife find out.
Posted on 10/12/15 at 10:57 am to Martini
Wear one of these at the closing.
Posted on 10/12/15 at 12:03 pm to I Love Bama
quote:
Sell it to me at a fair price or triple it?
If you know that Wal-Mart needs it, what does that make the "fair price"?
It makes your idea of a fair price a really bad deal.
See how that works? Regardless, I'm positive this guy doesn't represent Wal-Mart. I'm sure they wouldn't come to TD for advice.
Posted on 10/12/15 at 12:20 pm to I Love Bama
This seems likely
Posted on 10/12/15 at 1:08 pm to Martini
You have a good lawyer on retainer. Use him.
Posted on 10/12/15 at 2:23 pm to GeeOH
quote:
Regardless, I'm positive this guy doesn't represent Wal-Mart. I'm sure they wouldn't come to TD for advice.
You got that part right. It's just for general discussion on this board. I'll be sure to confirm any advice with the proper professionals when the move is made.
And my lawyer represents the other side - hence the reason for anonymity.
Posted on 10/12/15 at 3:07 pm to Martini
Do you want to keep ownership hidden, or is it just for purposes of the original purchase? If it is just for purposes of the original purchase, then you can do something as simple as use a proxy with whom you have a prearranged agreement to resell the property to you for an agreed upon price. Your ownership will become visible when you take title to the property.
If you want to keep your ownership hidden, then it will require the use of trusts to hide the beneficial ownership. Form a trust with a bank as the trustee and you as beneficiary. Have trust create an LLC with the trust as member. The trust will be listed as the member/manager on the Secretary of State's website with the trustee's initial and annual reports, in this case the bank's name and address will appear. The trustee will not disclose who the beneficiary of the trust is unless compelled to do so by law. Your ownership will remain hidden unless the property becomes a party to a lawsuit.
Despite all of your efforts, anyone really interested in finding out who owns the property can investigate and make a pretty good guess.
If you want to keep your ownership hidden, then it will require the use of trusts to hide the beneficial ownership. Form a trust with a bank as the trustee and you as beneficiary. Have trust create an LLC with the trust as member. The trust will be listed as the member/manager on the Secretary of State's website with the trustee's initial and annual reports, in this case the bank's name and address will appear. The trustee will not disclose who the beneficiary of the trust is unless compelled to do so by law. Your ownership will remain hidden unless the property becomes a party to a lawsuit.
Despite all of your efforts, anyone really interested in finding out who owns the property can investigate and make a pretty good guess.
Posted on 10/12/15 at 4:43 pm to Poodlebrain
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.
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.
Posted on 10/12/15 at 4:49 pm to I Love Bama
quote:
There are a million reasons why someone would do this.
Trying to dodge a stalker, the Mafia, or the IRS. All three would still be able to track you down if sufficiently motivated.
Posted on 10/12/15 at 5:15 pm to lighter345
quote:
Also, LA does not recognize Land Trusts so that isn't an option.
Really?! Bummer. For doctors, dentists and other professionals, who wanted to quietly be amateur slum lords back in the day, that was the #1 way to go about it.
Louisiana never has, or it stopped at some point?
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