2 ms·
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.
by 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.