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by pjc50 721 days ago
> Many people, when they learn about land trusts, immediately assume that something extremely hinky is going on. Not so much; this is an extremely common way for savvy people to own property. It is in no way a loophole.

I'm inclined to disagree with this. One of those "not everyone doing it is up to no good, but everyone who is up to no good is definitely doing it" things. Obscuring ownership makes it a lot easier to evade the state in other matters.

The UK (and EU countries etc) has a register of "beneficial ownership" which attempts to untangle all such legal obfuscation efforts. https://www.ocorian.com/insights/understanding-uk-beneficial...

2 comments

The UK register of beneficial ownership referred to in the article applies to registered companies AFAIK.

You cannot get much information on land ownership from public registers in the UK other than the name and address of the owner, and the name and address of any mortgage holder so the problem this solves does not exist in the UK either. There is a requirement that overseas entities owning UK property register their ownership, but that is all I know of.

> One of those "not everyone doing it is up to no good, but everyone who is up to no good is definitely doing it" things

That applies to breathing, eating, sleeping: not everyone who breathes is up to no good, but everyone who is up to no good is definitely breathing!

You really can't trust those dirty breathers. Always moving air through their nose and/or mouth