I THINK...Putting an asset into a corporation in this case is a way of separating it from your other assets, keeping it from being subject to liens against any estate.
But there's usually State taxes involved in a corporation and something had to be filed with the IRS at some point.
I'm not sure of the importance of the whole thing EXCEPT that Larry and Dannielynn are living (hiding) there....right next door to KE...one of the monsters of this bizarre scenario.
well, there's the rub - against any estate - but who would be thinking of 'estates' in 2005? I don't think Anna was...
IIRC, Individually, one is allowed to retain their primary residence even in bankruptcy (along with clothes, car, etc), so there is some degree of protection for the house.
On the other hand, assets of a corporation are subject to liens for state/federal/civil-suit collections against the corp and, therefore, are definitely subject to forfeiture. In Calif, counties assess certain annual taxes based on total assets of the corp - less assets would mean a lower county tax bill.
unless Anna was actively anticipating being sued individually circa 2005,(which we've seen no evidence of) putting the house into the corp, instead of creating a revocable trust and placing it in that instead, seems like a very poor and misinformed 'business decision' imo jmo