How many of you have heard the expression “you can’t get blood out of a turnip”? When an attorney is searching the public records to find your real estate assets, you want them to think you are a turnip. If your ex-spouse is trying to get money out of you, the first place his or her attorney looks is real estate holdings.
What real estate holdings? When creditors come after you, what do they come after? They may not be able to get your home, but they can certainly come after your other real estate investments. Don’t even get us started on the IRS or your state taxing authority.
If you don’t pay the taxing authority what they think you owe them, they will put tax liens on your real estate assets. When you go to sell these assets, the tax lien will show up against your title to the property. The new buyer will not be able to get clear title from you until you pay the tax lien.
Remember, transferability is one of the elements of value in real estate. At the very least, if you cannot transfer clear title, your real estate holdings will be diminished in value. So if you are involved in one of these situations, we recommend using options. You can be a real estate investor who controls property without owning it. We are firm believers in the right to privacy in business affairs. Make using options part of your privacy protection.