Ex-Lehman chief sold $13m home to wife for $100

Times Online ^ | 26 Jan 2009 | Christine Seib

[BGHater]

CYA.

[Lurking in Kansas]

Also, if a court decided that Mrs Fuld did not pay enough for the mansion, the transfer be deemed to be "fraudulent conveyance" that would render the move void.

Ya think?

[jalisco555]

I thought residential property in Florida was protected from lawsuits. Didn’t OJ use that dodge to avoid paying the Goldmans?

[Mojave]

I’ll give her $200 for it. 100% profit.

[Daus]

I thought residential property in Florida was protected from lawsuits

Is that only for primary residences perhaps? Either way, I can't believe this guy thought no one would catch on to this one.

[nuconvert]

“Ex-Lehman chief sold $13m home to wife for $100”

Gee, why not $50?

[Loyal Buckeye]

I thought residential property in Florida was protected from lawsuits.,/I>

Not a lawyer here, but it is my understanding that homesteads in Fla. are protected from bankruptcy so long as the individual had established residence there for some period of time. Four years sticks in my mind.

[Frantzie]

Florida’s homestead law.

[maggief]

His Connecticut home is pictured here:

http://images.google.com/imgres?imgurl=http://thumbsll.virtualglobetrotting.com/4/9/49674.gif&imgrefurl=http://virtualglobetrotting.com/category/buildings/homes-celebrity-business/&usg=__N0thpdv-t1-rZMaVWE7pY6yYSKg=&h=150&w=150&sz=13&hl=en&start=1&sig2=jpz3MV8DR771raR-b1-k2Q&tbnid=ReNO23r5LvheOM:&tbnh=96&tbnw=96&ei=LhR-Segxpfo0neDEmgc&prev=/images%3Fq%3DRichard%2BFuld,%2Bhome%26hl%3Den%26sa%3DN

[BGHater]

Compliment. Nice carbon footprint.

[scottteng]

Florida law exempts ones homesteaded primary residence from exposure to lawsuits and bankruptcy. In order to claim homestead one must be a “domiciled” Florida resident. A Florida resident is not prevented from visiting other states but dual residents such as our snowbirds are not entitled to homestead their property.

[maggief]

[maggief]

A few homes south of Celine Dions' home, (pictured under construction).

[Lizavetta]

How can you love and respect a man who would shaft so many people?

How could you not have anything but disdain and contempt for such a rotten person?

[BGHater]

I was talking about his ‘House’. Nor did I give any love or respect to him.

As it is, he is as innocent as Madoff.

[Blood of Tyrants]

Just to prove that it was a reasonable amount, I am prepared to DOUBLE the price to $200.

[Red in Blue PA]

Sometimes I wish we lived in the old west....these guys would be taken out and shot. And that would serve as an example for everyone else.

[ken5050]

Incredibly stupid move..because there is no way it can hold up..

[yorkie01]

This would be an ideal time for IRS to look into this but, zero’s already handpicked a tax cheat to run the IRS.