QUESTION

If three people used false names to obtain a property, what would happen if they try to sell it?

Asked on Jan 24th, 2015 on Estate Planning - Oregon
More details to this question:
If a home was purchased by a party of three people and the three people used false names to obtain that property what would happen if they went to court and to try to sell that home and divide the value of the home?
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1 ANSWER

Family Law Attorney serving Redmond, OR at Oliver & Duncan
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Let me guess these folks did not consult with an attorney before they purchased the property under their false names. I believe the fake-named buyers, now the owners, could prove their ownership if they were able to track the funds they used to buy the property from a legitimate source (such as their savings or the proceeds from the sale of other property) and there was no fraud of the seller involved in the purchase. On the other hand, if a buyer bought a piece of property under a false name so that he or she could hide the purchase from a husband or wife who would have a claim against the property as a marital acquisition, the fake-named buyer would probably have to put the property in her or her own real name along with the name of the spouse who was left out in order to correct the property record by getting the title into the actual names of the buyers. Go see a lawyer on this one!
Answered on Jan 27th, 2015 at 5:06 PM

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