3 ms·

If you have a property that's owned by your corporation, you can "sell" the property by transferring your company ownership to another holding corporation (slow

• ChuckMcM 3y ago
  Yes you can. I re-iterate that county tax records in the US (California for sure) are public records and you can go to the county clerk's office and get copies of them. In CA it is often "free" to view them at the office but costs money to have copies made. So spend some time and find out what everyone is paying in property taxes. If you do this in a "wealthy" area, you will find a lot of properties are held in living trusts (because probate), a lot will be in individual names, and a few will be own by LLCs. The latter are typically rentals (rather than rich people avoiding taxes, they are avoiding lawsuits from their tenants). As of 2023, if you aren't careful[1] the LLC rentals will lose their tax basis when they are inherited. If you were working for Redfin or Zillow you could probably pull this out of data you had on your servers because the companies have paid the counties for copies of all the records. [1] Where careful here is having created the LLC organizing document (or amended it) to allow for the transfer of majority ownership without triggering a sale. See this link for the current hoops -- https://www.kaidenelderlaw.com/blog/2023/march/can-an-llc-help-my-kids-avoid-california-propert/ https://www.kaidenelderlaw.com/blog/2023/march/can-an-llc-he...