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Question #5027

Anonymous Debit Cards & Property Transfer
Date: Nov 19, 2008 From: Walter
Location: Baton Rouge, LA Age: 58
Question: To Seth: #4947. There is a much easier way to get an anonymous debit card than jumping through hoops at the bank like you described. Today more than ever before there are people who could use a little cash, especially if what they are being asked to do for it requires no risk, and could potentially be a benefit to them.

Just approach someone on the street or elsewhere who appears down on their luck so to speak and probably doesn't have much by way of family. They're everywhere. Very likely their credit is terrible. Tell them you can do them a favor if they will do one for you. Explain to them that if they will allow you to use their personal information to obtain a debit card, not only will they have nothing to lose since you can only spend what's in the account, but in fact as you regularly maintain this account, their credit rating will improve.

Take them to the post office. Give them $50 or $100 to open up a P.O. box in their name, give you the key and keep the change. Worked for me.

Changing the subject:
(1) which entity is better for holding title to a piece of real estate, a NM LLC or a trust?
(2) If the real estate is already owned by a Nevada C Corp with a clear title, is there any way to transfer title to either a NMLLC or a trust without incurring capital gains taxes?

Answer: (1) It all depends upon what you hope to accomplish. (With an LLC, for example, a transfer of ownership is easy. Not so with a trust.)

... (2) Not that I know of.

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