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pennyroberts1, Other/Just Looking in New Jersey

Why would someone sell his own house to himself for very little money?

Asked by pennyroberts1, New Jersey Wed Oct 17, 2012

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2
Hi pennyroberts1:

In public records we often see cases where homeowners essentially sell themselves their own home for a nominal fee. Sometimes they remove a spouse from joint ownership or add a spouse to own the home jointly. Sometimes they sell it to a trust that they control. Sometimes they just correct a misspelled name or some other inaccuracy in the public record. In other cases, it looks as if the new owner is exactly the same as the old one, which may be a legal maneuver, or an accounting maneuver. But I am not an attorney or tax adviser so I cannot tell you why a person does this in any particular case.

Best,
Ron

Best,
Ron
0 votes Thank Flag Link Wed Oct 17, 2012
A person sold his own house to himself for a nominal fee and the reason I ask for his possible motive in doing so is because another person invested into joint ownership of the house at, near enough, the same time. Is there some sort of scam possibly involved?
Flag Thu Oct 25, 2012
I don't know what you are talking about as there is not enough information. You may see a transfer from one individual into their trust.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Wed Oct 17, 2012
A person sold his own house to himself for a nominal fee and the reason I ask for his possible motive in doing so is because another person invested into joint ownership of the house at, near enough, the same time. Is there some sort of scam possibly involved?
Flag Sun Oct 21, 2012
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