Creative Names For Trusts
I bid on properties at the courthouse, but on some deals I want to remain anonymous and not draw attention as to avoid any subsequent bids.
I can bid in the name of an entity or trust, and I was thinking about naming a trust with the words bank or mortgage. Do you think that would be risky?
Also, does anyone know if the name of a trust must be completely different then the name of an existing corporate entity?
How about (Mecklenburg) County Administrative Services? I have an LLC similarly named that I use strategically, makes it sound like some govt entity owns it.
Perhaps I should clarify. The trust name is just for anonymous bidding at the courthouse. My attorney will prepare my deed however I instruct him.
So, you want to upset your own winning bid? I am guessing that the winning bidder is barred from bidding at the upset bid sale.
This seems way to easy..
I can bid $1 over during the upset bid and get the property?
Well not $1, but sometimes just $750. I just missed out on a deal where I forgot to bid in time. For just $2000 I would have owner a free and clear $125,000 property. If I had bid in my name, someone would have noticed something worthy of further attention.
Quote:
On 2009-08-09 00:26, cjmazur wrote:
This seems way to easy..
I can bid $1 over during the upset bid and get the property?