Thursday, April 16, 2015

Throw Back Thursday! 'Documentary: America's Secret Wealth Exchanges'

NASGA recently received the following comment to an older blog post:  As I was interviewing a probate lawyer, he suggested doing a 'court approved sale,' then described how it would be advertised out of state. It didn't make sense, but I asked him if this wasn't something we could decide later. He said 'yes,' but he had documents for me to sign (that he didn't want me to read first) that had a court approved sale as a limit to probate. I later learned that most such sales are a cash auction and only one person bids on the house (after all it was advertised out or state, so only the insider knows about it) and that person usually gets the house for way under market value. In bank foreclosures, the banks get made whole (by the taxpayers)through an agreement with congress, but the heirs of guardianship houses just lose. In every case of a court approved sale I came across, the house sold for way under market value. In every instance in which there was a market offer, it was shut out or turned down and the house sold in the court approved sale for much less.
The original post:

This documentary is the story of a woman who lost her husband then was plunged into the ugly world of greed, corruption, and legal abuse via unnecessary and predatory litigation. The widow was intentionally kept from mitigating damages to the Estate due to the insider activities between lawyers, and an asset management company....

Documentary:  America's Secret Wealth Exchanges