- 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?
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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