seau355@yaho…, Home Buyer in East Falmouth, MA

can a property be sold for $1? 4 Highland Circle was sold in 2008 for $1 according to "REO and Trustee Deed," what does this mean?

Asked by seau355@yahoo.com, East Falmouth, MA Tue Feb 12, 2013

Email response: seau355@yahoo.com

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I just reviewed the registry of deeds.
The doc that is recorded just prior to this deed is in fact a trust as Richard suggested.
The owner appears to have deeded the property to a trust where the owner is the trustee.
The parts of a legal transaction are offer, acceptance and consideration, thus the dollar is the necessary consideration.


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0 votes Thank Flag Link Tue Feb 12, 2013
It's not a sale. It's either a change of ownership between family members or change in the ownership from individual to a trust.
0 votes Thank Flag Link Tue Feb 12, 2013
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