Real estate and personal representative

E

Eima

New Member
Jurisdiction
Colorado
Hi,

I have a question regarding the transfer of a property.
An elderly transferred his property to a personal representative for $150,000.
This PR is a financial Inc which is connected to a caregiver Inc. They both have the same board of directors.

Two days after the first transfer, the Financial Inc transferred the property with warranty deeds to a real estate broker for $215,000.
The same day, the broker transferred the property with warranty deeds to a real estate buyer for $230,000. The buyer flipped the house and sold it four months later for $374,900 also with warranty deeds to a final buyer.

The elderly may have transferred his property against the service of the caregiver and the PR made huge profits out of this service.

The broker is an OFF market broker, what means that the property is sold at the lowest price.

Does it sound legal?
 
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Eima said:
I have a question regarding the transfer of a property.
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I have questions regarding your question.

Eima said:
An elderly
Click to expand...

I'm guessing you mean an "elderly person."

Eima said:
An elderly transferred his property to a personal representative for $150,000.
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Now tell us the important stuff:

1 - Age of the person.
2 - Mental capacity.
3 - Personal representative in what capacity?
4 - Market value of the property when it was sold to the PR.

Eima said:
This PR is a financial Inc which is connected to a caregiver Inc. They both have the same board of directors.
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So? What does the caregiver Inc have to do with anything?

Eima said:
The elderly may have transferred his property against the service of the caregiver
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That doesn't make sense. Do you mean against the advice of the caregiver? Is that the same caregiver as caregiver Inc or a different caregiver?
 
I have a wage claim and retaliation complaint against the buyer who flipped the house. They defrauded me with many lies, saying they would pay later and finally, they never paid.

We have a small claim court on 07/16/19 that they opened after my retaliation complaint. I am going to provide my own proves in my own case, but I want to explain the kind of people they are, and from what I know, the company who flips the houses is connected to the broker who sold the house off market and the caregiver is linked to the financial inc.

I believe there is a fraud. On public records, the property appears like this:

Reception date | Instrument | Sale date | Sale price | Grantor | Grantee
11/20/2018 | PR | 11/19/2018 | $150,000 | name of elderly | name of financial Inc
12/28/2018 | WD | 12/21/2018 | $215,000 | name of financial Inc | Name of broker llc
01/02/2019 | WD | 12/21/2018 | $230,000 | name of broker llc | name of flipping llc
03/26/2019 | WD | 03/22/2019 | $374,900 | name of flipping company | final buyer

The caregiver provides services to elderly, blind and disabled people. They seem to have a system where they provide caregiver services against the house. The owner of the caregiver company has 11 other companies, all Inc, 7 of them are delinquent in public records. 5 companies have "financial" in the name. One has "caregiver". One has "construction" and another one has "professional services".

I feel very strange that a PR becomes the owner, then makes $65,000 profits with a broker who sells off market. I am trying to understand if this is usual practice because if the elderly "sold" the house against the service of the caregiver and if the PR is in fact the same person as the caregiver but with a different name, I feel like there is a fraud but I cannot find information on the internet to explain it.

If I use this information in a court, I don't want it to be used against me.
I am trying to explain the greed of those people, always lying and not paying for the labor done on their properties.
 
Adjusterjack, yes I was meaning an elderly person.

I don't know the age and the mental capacity of the elderly person. The CAREGIVER INC advertises with saying "we provide services to the elderly, blind, disabled at no cost for the families in most cases".
The FINANCIAL INC, who has the same owner as CAREGIVER INC advertises saying:
" FINANCIAL INC has 20 years experience in creating real estate solutions in Colorado. We buy houses for cash in any condition. We may be able to pay for your loved ones' services depending on the situation".

That would mean that the $150,000 goes to CAREGIVER INC to provide the services and FINANCIAL INC sells the house with $65,000 profits. ???

On Internet, they say that in Colorado, a PR is usually compensated about 2% of the value of the estate and the percentage is established by a judge. Here, I don't really understand the scheme, only maybe if the PR is a relative to the elderly person. and NOT the elderly himself.

I am trying to understand to see if there is good reason to believe that there might be a fraud and if the flipping company may be involved into it.

I have read on the internet that many people have been defrauded with warranty deeds and that real estate brokers are a big part of this fraud.

Does this case sounds illegal or suspect to you?
 
The market value I believe was $230,000, not $150,000. And this is the OFF market value. The real market might be above.
 
On https://www.ripoffreport.com, there is one report involving "FINANCIAL INC" where it is reported that they stole a house for $25,123.10.

The chain of ownership on the case I describe above seams very tricky. I would appreciate any comment on this at least to value the risk I am taking with mentioning this in my own case.
 
Eima said:
I have a wage claim and retaliation complaint against the buyer who flipped the house. They defrauded me with many lies, saying they would pay later and finally, they never paid.
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Now you're just adding more confusion to your post. What does your wage claim and retaliation against the buyer who flipped the house have to do with that actual sale of the house by the owner?

Eima said:
We have a small claim court on 07/16/19 that they opened after my retaliation complaint. I am going to provide my own proves in my own case, but I want to explain the kind of people they are,
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The kind of people they are is likely to be inadmissible. In other words all the judge will want to know is "Do they owe you money and can you prove that they owe you money and how much?" Telling the judge that they are bad people because they did this that and the other thing with flipping the house isn't going to help you and the judge will probably shut you down when you start talking about it.

Eima said:
I don't know the age and the mental capacity of the elderly person.
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If you can't answer questions 1, 2, and 3 it would appear that you are not related to or involved with the owner who sold the house so any further discussion of the sale and the flipping of the house would be a waste of time because you have no standing to do anything about it and it's not relevant to your wage claim.
 

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