Posted on 12/26/2008 4:39:40 AM PST by Man50D
The control of ports on both ends of the Panama Canal by the Chinese Hutchison Whampoa company was (eventually)reported by numerous news agencies.
I believe fact remains that the executor is who you designate it to be; I've done it, my cousin did it, lawyers didn't have a problem.
And (to original poster), I can't think of a valid reason to state that the lawyer might be 'owner' of property in trust - unless it might pass to the lawyer/executor as payment for services, or by his/her misuse of the station.
I should have said the attorney showed up as “owner” during a title search.
I agree. All the trust properties I've seen in property records in my town show the trust as the owner, not the attorney managing the trust.
My father in law has a trust set up for his house this way. He is a quadriplegic and has his attorney pay his bills through a support trust. His attorney is recorded as the owner/executor of the trust and all bills are addressed to him. The attorney shows in the public record as the owner, because all the bills go to him. He pays them from the funds of the trust. It isn’t uncommon, and my father in law is still the owner of the house.
I really, really wish those who post these stupid and ridiculous WND stories would stop. WND isn’t fit to be toilet paper.
Do a search for 18 Duck Pond Ln, for example, at http://merrimacknh.patriotproperties.com/:
Owner: ABOOZIA MARY M TRUST
ABOOZIA TRUSTEES MARY M & MANNING M
Address: 18 DUCK POND LN
City: MERRIMACK
State: NH
Zip: 03054
Zoning: R
The Obama's home's record appears to show the outright owner of the property as the attorney, rather than any sort of trust or corporation. Sure, the trustee holds legal title to property in a trust, but you'd think there'd be some indication of the trust arrangement in the public record. I wonder whose signature is on the deed?
i suggest that you read the article and follow the links. there was a lot of leg work done and although Obama is still on the edges of it all, he can’t stay there forever. It is just too tangled of a mess.
Most interesting was one of the links made of an Arab who has contributed so heavily to Obama and Rezko for land deals.
How can the POTUS be indebted to an Arab and act in favor of the Nation he serves?
Where was this 6 months ago?
Yes, it is the attorney’s name on the property. This attorney handles his expenses and payment for anything related to the property. There are different laws in each state, so I don’t know how things are done in IL. My FIL’s house is in Florida, and that is the way his accountant and attorney set it up. My FIL’s name is on the deed, because the trust was created after the property was purchased.
It seems kind of silly to assume that this indicates some kind of fraud or wrong-doing. (not suggesting that you are assuming that, just that others are jumping to conclusions) I am more concerned about the plans for spending 3 trillion dollars of hard earned taxpayer money, and how we can be sure the money will at least be directed to a project and not some criminals pockets.
Back in Chicago it is common to have the trust in the lawyer's name for privacy reasons.
We just don't see it that often on the west coast compared to Chicago.
Always glad when I learn something new. :-)
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