keeping your name off ACRIS, how to live privately
Is it possible to buy a house and take out a mortgage without having your name placed on the public records like ACRIS? I have been told that you can put your property in an LLC but would you do this right after closing? And if you did set up an LLC could you still…
Is it possible to buy a house and take out a mortgage without having your name placed on the public records like ACRIS? I have been told that you can put your property in an LLC but would you do this right after closing? And if you did set up an LLC could you still claim the home as your primary residence and get the tax benefits? What do famous people who want to remain private do? Thanks, Stalker in my Past
Be carefull about the LLC and MOST lenders will have an issue with it when obtaining a mortgage. A few small portfolio and community banks are fexible when it comes to buying in the LLC but they are the small minority.
With the LLC, you can have an Acting Agent within your state where the mails will be addressed to. This is one way because then you would not have your private address showing up in the public records. I could be wrong but I have a LLC business and my agent receives all my mail (only in the state of NJ but in NY i kept it the same but this can be changed. Only way of knowing if it belongs to you is to call up the state and find out but the state questions the person thoroughly before giving any information out. So would advise it, but consult a lawyer first (my knowledge of it is the owners address is kept privately if they have an acting agent within their state to receive mails on behalf of them (don’t know if you will have good tax benefits because I still yet have to own my first home). Currently in business with my partner and can tell you this much about filing for an LLC.
Hope all goes well
Christine
To further respond to your questions–you have to set up the LLC *BEFORE* the closing. It has to be in place FOR the closing.
Famous people put their property in the name of a trust or an LLC, but you can still see mortgage activity for a property, and many snoops quickly learn the names of the trusts or LLCs that belong to celebrities. It’s horrible.
Unfortunately, it’s virtually impossible to maintain privacy anymore. You could set up an LLC, and claim the home as your primary residence–that’s perfectly ok. However, anyone who knows you and your new address would know the LLC is yours, and they can still see any and all mortgage activity associated with your house. Also, be careful with the LLC set-up; consult with a lawyer who can advise you through the process so that your name, signature, and current address don’t appear on the deed as the owner of the LLC. I feel your pain. You could get it done c/o a lawyer or something–not sure on specifics, but a good attorney should be able to give you some options. Good luck.
This has been asked a few time before here.
Answer, no.