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Bob, Home Buyer in Upper East Side, New...

Why my recent condo purchase price is all over the web!?

Asked by Bob, Upper East Side, New York, NY Mon Apr 21, 2008

I have recently purchased a condo and found that the amount I paid could be easily revealed by simply typing my address into Google. Trulia.com pop out and tell everyone how much I paid. How about some privacy?

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Answers

6
When you purchased your condo a deed was recorded. It is a public record. Public records are public, thats the law.
2 votes Thank Flag Link Mon Apr 21, 2008
How about public records? That information is public information. There's no "right of privacy" in such cases.

Now, if you'd wanted privacy, there were a lot of ways to do it. You could have established an LLC or a land trust, and purchased it in the name of the LLC or land trust. You'd still have had to personally guarantee the loan, but then the trax records would show that "Upper East Side Condo LLC" had purchased the property or, similarly, that "Upper Least Side Condo Land Trust" had done so. Your name wouldn't have been visible.

At this point, you can still establish a land trust or an LLC and transfer your property into it. At this point, the records still will show your purchase from the previous owner. However, it then will show a transfer from you to an LLC or land trust. And no one can be sure that it's controlled by you. That's done frequently for privacy and asset protection. You might also consider establishing a living trust (of which a land trust is a variation), and moving your property into the living trust. That can be a good estate planning tool. I'm not a lawyer or financial planner, so this isn't legal or financial planning advice. However, you should contact a lawyer with expertise in estate planning and get some input. That can also provide some privacy.

Hope that helps.
1 vote Thank Flag Link Mon Apr 21, 2008
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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Save yourself a trip to the county clerks. Go to Acris it has all the nitty gritty you don't want anyone to see.
0 votes Thank Flag Link Thu May 22, 2008
You can go to the county clerks office and look up their information. Their information is public too.
0 votes Thank Flag Link Mon Apr 21, 2008
Even co-ops are public record now. It's the law!! :)
0 votes Thank Flag Link Mon Apr 21, 2008
Thank you.
Well, why then not all prices are available. For instance , why my neighbor's prices are not there along with mine? There were several units closed during last year.
0 votes Thank Flag Link Mon Apr 21, 2008
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