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Started By
Message
re: Raleigh Man Faces Financial Ruin After Multimillion-Dollar Home Stolen Using False Deed
Posted on 9/21/24 at 11:41 am to SlowFlowPro
Posted on 9/21/24 at 11:41 am to SlowFlowPro
quote:A few hundred deals using them.
I'm not an expert, but how would you know?
We talk a lot, and I use one company primarily (their firm represents the association too). You’d probably be surprised how much conversation happens at the title companies waiting on the parties to arrive. Or could just be me cause I never shut up.
quote:Chain of ownership on the property. An LLC with nothing more than a deed and no visible purchase trail on a multi-million dollar property is going to draw a lot of scrutiny. Assuming of course the buyer has a search done. If they’re stupid enough not to I have no sympathy for them.
On a normal title search, how would you know the Co LLC you were dealing with was the correct one? If their addresses (on paper) were the same and everything?
quote:No, but the chain of ownership will flag it. Which will get questions asked about the LLC itself.
There is no verification process when forming the LLC to prove who you are, at the time of formation.
I think you’re missing that scams such as this depend on speed and neglect. If any scrutiny is applied, most fall apart.
1
Posted on 9/21/24 at 11:48 am to BlueFalcon
quote:I won't argue with that. That's a historical fact as long as humans have been around. Some people get treated better than others. It's not a reason to throw out our current judicial system.
Disagree, we've seen many times that there are plenty of people who are above the law
quote:This statement is bullshite. The system is not weaponized against you.
We lean on a system that is not only corrupted but weaponized against us
quote:Because it's the best system we have. You don't want juries to start ignoring the law and doing what they think is best. You think jury nullification will be terrific for the cases you think are wrong. Then everybody will want jury nullification for all of the cases they think are wrong You won't like the result.
Why the hell should anyone play along willingly?
Posted on 9/21/24 at 12:56 pm to NC_Tigah
quote:
Bilateral (buyer-seller) confirmation of the transaction
What the the paperwork is for (literally). That is the confirmation at the time of transaction.
This post was edited on 9/21/24 at 12:56 pm
Posted on 9/21/24 at 1:28 pm to llfshoals
quote:
Chain of ownership on the property. An LLC with nothing more than a deed and no visible purchase trail
The names of the 2 LLCs are the same
On the title search it will say "Co LLC" with address of X, and the LLC you're dealing with is "Co LLC" with address of X. The difference is the states of incorporation (which won't be on the title search).
quote:
but the chain of ownership will flag it
The chain of ownership will show "Co LLC" owns the property.
quote:
I think you’re missing that scams such as this depend on speed and neglect.
To an extent. Most (All?) fraud eventually gets discovered.
Posted on 9/21/24 at 1:45 pm to SlowFlowPro
quote:
That is not enough time for a real estate litigation to occur.
It’s plenty of time for a preliminary hearing to see if there’s any merit to someone’s claim.
In this case the fraudulent party would be laughed out of court and likely criminal charges filed as a result.
If there’s a need for a more in depth hearing for a case with merit it could be granted for later on assuming the second part of my plan is in place preventing any sales, mortgages or cash out situations from occurring while the case is being heard.
quote:
I already posted this exists in LA and I imagine other jurisdictions. Once you file a normal civil suit you file this in the records. In LA it's called a lis pendends and it acts like a lien.
That’s wonderful for LA. If that were the case in NC (and nationally) this situation wouldn’t be as serious as it is.
Posted on 9/22/24 at 6:51 am to SlowFlowPro
quote:Obviously not. There are a litany of options to ensure it would be.
That is the confirmation at the time of transaction.
Posted on 9/22/24 at 9:21 am to NC_Tigah
This should take about 10 minutes to clear up. Things like this are easily avoided with common sense. One question show where you paid for it? When you can’t, you go to jail.
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