4 ms·
Do wealthy or famous people use some kind of property management entity to hide their personal info in those records?
by nitrogen 6y ago
Do wealthy or famous people use some kind of property management entity to hide their personal info in those records?
- e9 6y agoYes, they set up trust and then trust owns the property. You can still sometimes figure out the owner based on the trust name.
- entangledqubit 6y agoYes. Also, if this is a concern, the property involved may never have been publicly listed as for sale.
- jedberg 6y agoThey use trusts, or if they really want to be private, they have their estate lawyer's firm buy it for them and be the owner of record.
- OldHand2018 6y agoYeah, generally you have what’s called an Illinois Land Trust. I think every state but Louisiana now allows them. The public record will say that the owner is “Trust #541341324132 with XYZ Bank/Title Co/Law Office” If you want to know the real owner (“beneficiary”), you go to court and present the reasoning for wanting to know. If it’s a valid reason, the court will issue an order that you take over to XYZ Bank/Title Co/Law Office and they’ll give you that information.