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At least in the US, house purchases are by default anonymous. The only reason I know the sellers of my house is because they put in their trust name their full

At least in the US, house purchases are by default anonymous. The only reason I know the sellers of my house is because they put in their trust name their full legal names. Last time I sold a house, the only reason I met with the buyer directly was because I didn't use an agent for the sale.

tsimionescu 4y ago
Are you staying that the state/county doesn't know that you are the person owning that house, or doesn't know who the previous owner was? This thread is not about privacy from other private citizens/companies, but privacy from the state authorities. For example, my bank account is private in the first sense (even my parents couldn't find out how much money I have unless I tell them), but it's not private in the second sense (financial authorities have the right to ask my bank how much money I have).
trebbble 4y ago
> At least in the US, house purchases are by default anonymous. The only reason I know the sellers of my house is because they put in their trust name their full legal names. But most homeowners don't have the house in a trust. That's mostly a rich-people thing. The default is that it's your personal name(s) on the documents, including in e.g. county tax records.
closewith 4y ago
What about 1099-S reporting?
- sidewndr46 4y ago
  Home sales do not universally count as income. Also, it is important to realize that 1099-S reporting applies to individuals like a licensed realtor. Which I am not.
djbusby 4y ago
If it's anon, how does the government get their property taxes?
- sidewndr46 4y ago
  Property taxes are between the owner and the county where I live. They are paid in advance, so you can't sell a house without paying the property tax first. It'd be liened by the tax authority to prevent the sale.
  - tsimionescu 4y ago
    But if the owner is anonymous, how does the country know who to ask for paying the taxes? How would the county even find out that the house changed ownership?
    - PeterisP 4y ago
      In the grandparent example, it seems the new owner is a trust, which is also liable for paying the taxes (or there can be action taken against its property i.e. the house), but the person owning/controlling that trust is obscured. Perhaps a relevant different example I've seen sometimes is that in some markets for tax reasons developers who build larger buildings (offices, apartments) will make a separate LLC for each building, so when they want to sell it, the title to the real estate doesn't change hands (it still belongs to the same company) but rather they sell the whole "company" instead with the building as its main/only asset.
      - mindslight 4y ago
        <thumbsup> Proposition 13 likes this.
    - sidewndr46 4y ago
      They don't need to know. If the property tax isn't paid a local judge just writes up a new deed to whomever pays off the delinquent property taxes. It is literally property in their jurisdiction. They can take possession any time.
raverbashing 4y ago
But you have the seller and buyer's name in the title no?
- sidewndr46 4y ago
  No, it just lists the trust name.
- PeterisP 4y ago
  Kind of yes, but if the buyer technically is a trust or a shell company, then the title lists that, and not any person.

tsimionescu 4y ago

Are you staying that the state/county doesn't know that you are the person owning that house, or doesn't know who the previous owner was? This thread is not about privacy from other private citizens/companies, but privacy from the state authorities. For example, my bank account is private in the first sense (even my parents couldn't find out how much money I have unless I tell them), but it's not private in the second sense (financial authorities have the right to ask my bank how much money I have).

trebbble 4y ago

> At least in the US, house purchases are by default anonymous. The only reason I know the sellers of my house is because they put in their trust name their full legal names. But most homeowners don't have the house in a trust. That's mostly a rich-people thing. The default is that it's your personal name(s) on the documents, including in e.g. county tax records.

closewith 4y ago

What about 1099-S reporting?

sidewndr46 4y ago
Home sales do not universally count as income. Also, it is important to realize that 1099-S reporting applies to individuals like a licensed realtor. Which I am not.

djbusby 4y ago

If it's anon, how does the government get their property taxes?

sidewndr46 4y ago
Property taxes are between the owner and the county where I live. They are paid in advance, so you can't sell a house without paying the property tax first. It'd be liened by the tax authority to prevent the sale.
- tsimionescu 4y ago
  But if the owner is anonymous, how does the country know who to ask for paying the taxes? How would the county even find out that the house changed ownership?
  - PeterisP 4y ago
    In the grandparent example, it seems the new owner is a trust, which is also liable for paying the taxes (or there can be action taken against its property i.e. the house), but the person owning/controlling that trust is obscured. Perhaps a relevant different example I've seen sometimes is that in some markets for tax reasons developers who build larger buildings (offices, apartments) will make a separate LLC for each building, so when they want to sell it, the title to the real estate doesn't change hands (it still belongs to the same company) but rather they sell the whole "company" instead with the building as its main/only asset.
    - mindslight 4y ago
      <thumbsup> Proposition 13 likes this.
  - sidewndr46 4y ago
    They don't need to know. If the property tax isn't paid a local judge just writes up a new deed to whomever pays off the delinquent property taxes. It is literally property in their jurisdiction. They can take possession any time.

raverbashing 4y ago

But you have the seller and buyer's name in the title no?

sidewndr46 4y ago
No, it just lists the trust name.
PeterisP 4y ago
Kind of yes, but if the buyer technically is a trust or a shell company, then the title lists that, and not any person.