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FinCEN proposes new rule for residential real estate held in trusts or LLCs

fincen.gov

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Re: FinCEN proposes new rule for residential real estate held in trusts or LLCs

#71

Post by psychlops »

Fin_Code wrote: post #53
psychlops wrote: post #16

Earlier quoted context omitted.

> one of the big causes of housing inflation is using it to launder money I'd love a link backing this bold assertion.

This is actually quite easy. Lookup how to purchase a home with cash (its easy). The house is then assigned to an owning entity to become part of a portfolio. Then after a given time based on risk you can sell to generate revenue. Then disburse to other entities that lead back to the person that dropped in the cash. The wash is completed. Where else could you drop large quantities of cash then translate that to clean…

Pretty sure this fails at step one.

Re: FinCEN proposes new rule for residential real estate held in trusts or LLCs

#72

Post by Eisenstein »

lazide wrote: post #70
Eisenstein wrote: post #69

Earlier quoted context omitted.

> And I don’t appreciate you attempting to put words in my mouth. By having an answer which means one thing but you contend means another then you are having me guess at what the answer is. Answer the question or refuse to answer the question, or ask for a refinement of the question. Don't write an answer and then go off about how it doesn't mean what it obviously appears to mean. > That you seem to think they are th…

'Have you stopped beating your wife yet?' [ https://en.wikipedia.org/wiki/Loaded_question ] I've been quite clear on my position (direct and implied). Why won't you be? I'm interested in desired outcomes and expected behaviors and tradeoffs, not idealism. Sophistry is the enemy of realism and truth. A type of 'crabs in the bucket' mentality, actually, as it's about 'winning the debate' instead of 'coming to the truth…

"Does one have the right to have wealth (control enough resources) that one can impede society by act of controlling things and making them not-useful or exploiting them in a way that is a detriment to society?"

This is an easy question to answer, and you answered it and then un-answered your answer. Probably because when I clarified your answer to mean what it meant (by taking control of things away from people who are using them in a way society deems not useful or harmful, you are removing their wealth and thus they do not have a right to it) you violated some kind of principle you thought you held and had to backtrack.

Instead of engaging with this thought process you just proceeded to deliver a few unwanted lectures on things that you felt necessary. I must assume you lack the self-awareness and/or are regarding the question as loaded because it uses a word: wealth, which has a very distinct meaning (but you feel is being used ideologically).

Re: FinCEN proposes new rule for residential real estate held in trusts or LLCs

#73

Post by lazide »

Eisenstein wrote: post #72
lazide wrote: post #70

Earlier quoted context omitted.

'Have you stopped beating your wife yet?' [ https://en.wikipedia.org/wiki/Loaded_question ] I've been quite clear on my position (direct and implied). Why won't you be? I'm interested in desired outcomes and expected behaviors and tradeoffs, not idealism. Sophistry is the enemy of realism and truth. A type of 'crabs in the bucket' mentality, actually, as it's about 'winning the debate' instead of 'coming to the truth…

"Does one have the right to have wealth (control enough resources) that one can impede society by act of controlling things and making them not-useful or exploiting them in a way that is a detriment to society?" This is an easy question to answer, and you answered it and then un-answered your answer. Probably because when I clarified your answer to mean what it meant (by taking control of things away from people who…

Ho boy. I wish you luck with your future adventures, because you're going to need it.

Ciao!

Re: FinCEN proposes new rule for residential real estate held in trusts or LLCs

#74

Post by dogman144 »

wavefunction wrote: post #23
dogman144 wrote: post #10

Earlier quoted context omitted.

They have to fear swatting. If you’ve got the time and knowledge of where the individual likely lives, a hunting app for instance will show who owns each land plot in clear-text lol.

Ok but I have to fear that, what's the purpose for different privileges? My info is publicly available.

If you’ve got the time and effort, it doesn’t have to be. These “extreme privacy” measures are available to the laymen with some time/effort/money, or definitely for someone with a tech job.

One of the main steps is buying or renting under a LLC. Anyone can do that with planning.

Re: FinCEN proposes new rule for residential real estate held in trusts or LLCs

#75

Post by cyanydeez »

dikaio wrote: post #61
cyanydeez wrote: post #52

Earlier quoted context omitted.

good. wealth transfer is obscene.

You are either sorely misinformed or highly inept on the subject. [edit] to provide clarity. Holding assets in trusts or LLCs has nothing to do with doing anything illegal, and you will find politicians, people working in 3 letter agencies etc all do the same, we all pay taxes just like you. So attempting to leaving a comment with a critical view particularly in contexts where it might be seen as unfair, unjust, or d…

If it wasn't obscene, why hide it?

Oh.

Re: FinCEN proposes new rule for residential real estate held in trusts or LLCs

#76

Post by dikaio »

cyanydeez wrote: post #75
dikaio wrote: post #61

Earlier quoted context omitted.

You are either sorely misinformed or highly inept on the subject. [edit] to provide clarity. Holding assets in trusts or LLCs has nothing to do with doing anything illegal, and you will find politicians, people working in 3 letter agencies etc all do the same, we all pay taxes just like you. So attempting to leaving a comment with a critical view particularly in contexts where it might be seen as unfair, unjust, or d…

If it wasn't obscene, why hide it? Oh.

sigh. It has nothing to do with hiding and everything to do with protecting ones assets. My guess is you either have no children or little in assets; if you happen to have either and mean what you've written above I would suggest educating yourself on the matter before writing comments like you have. Good luck.
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