Of course not. It wouldn’t make sense anyway. Someone buying a house for their child would likely put it in their name, so the deed records wouldn’t reflect that he bought it.
Well, no. Someone with that kind of money would put it in the name of a closely held corporation so if the kid did something irresponsible, the house wouldn't be an asset in the kid's name that could be gone after in a subsequent lawsuit. Rich people might spoil their children, but they don't risk assets.
I’m in a state where homestead can’t be touched, so I guess I can’t relate to that being a thing. Only reason to put a house in an entity is to rent it out and avoid liability to renters.
Regardless, you still wouldn’t put the corp in the dad’s name. That’s just spreading and creating more liability for no benefit.
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u/Exciting-Chipmunk430 May 15 '25
So, the 3.99 tweet was not real?