openness=less secrecy, sure.
Not to you apparently. To Facebookâs 2B users it is.
Every last one of us count. Slippery slope. Lack of privacy gives way to authoritarian and oppressive governments, thereâs also that aspect.
You mean we wonât be living in a matrix? Thought that is the ultimate outcome.
Tesla apparently tracks all its cars and has detailed log of everything. Is it a breach of privacy?
Canât help it, is the total culture.
Apple is obsessed with perfection mean it would take a lot longer than others to release a product. If a competitor got wind of its product even half way, competitor can easily launch a not so perfect product in a relative short time before Apple. In order to be a little more open (less secrecy), Apple has to reduce their obsession a little.
Obviously. I didnât order any Ts.
Given how popular Tesla is, even among the computer literate techies, you can see how little people value their privacy.
There is a trade off between convenience and privacy. Itâs been proven people are willing to trade a large amount of privacy for even a little more convenience.
1 Like
Thereâll be a time where people will fight for their privacy, whether in the name of freedom, rise against authoritarian government, something.
Sure we trade it today, not because itâs not super convenient to do, but because we do not understand downstream implications.
âi have nothing to hideâ is not a good reason to give up privacy.
On similar fronts, I am looking into buying my first property, and hide ownership through land trusts (not something you can reduce taxes, itâs just it gives privacy).
A potential disadvantage of land trusts is the false belief that the trust protects property owners from all liability. Even in Illinois, where the modern real estate land trust was born, courts have ruled that the real property owner, not the trustee, is liable in cases dealing with the direct management of the property [source: Murray]. Itâs also dangerous to think that a land trust offers bulletproof privacy. A court can order full disclosure of property ownership for any number of civil and criminal complaints. The legalities of land trusts are highly complex and differ state by state, so itâs critical to obtain the counsel of a reputable trust lawyer.
I do not want bullet proof privacy, and i am not hiding legal ownership in court. I just want my address not be available through google search, i do not want how many properties i might own in the future be available through the same, etc. This is an info only i should care.
IF i go fancy, I can set up off shore trusts/accounts/etc to buy re, but i am not a cash buyer, so eventually the bank knows what i own, anyways.
All your properties are on realistâŚEasily accessible by any realtor ot title companyâŚPublic recordâŚUnless you put your properties in an anonymous LLcâŚ
land trust still hides it. The trustee is someone completely different from you, and the âbeneficiaryâ which is you is not visible.
your bank still knows it, though.
I am not sure about LLCs in california (or whether it can be out of state like delaware).
You care about privacy so much thatâd youâd trust someone else to be your trustee?
1 Like
Trustee doesnât have much power and needs beneficiary approval, and you make them to âresignâ right away.
The settlor often remains the beneficiary of the trust for his/her lifetime. In essence, the trustee holds the title to the property and must follow the instructions of the beneficiary. The beneficiary typically has the absolute right to direct and control the trustee, and receive all income from the trust. The trust agreement, at the creation of the trust, governs the relationship between the trustee and beneficiary. Thus, the trustee often has no more power than the settlor gives him. Plus he or she has no function other than to do as the trust deed instructs.
The good thing with these kind of trusts are: You can still get a mortgage, and transfer to trust does not trigger due on sale.
The down side of this is the âauction pressureâ in bidding goes down, as i know most agents try to stay away from trust sales for almost no reason.
You can also technically make an LLC the beneficiary of the trust (which again does not get publicly recorded). This normally should trigger due on sale, but itâs not recorded so banks wonât see it. I am not planning to do it at all.
The other question with this set up is whether LLC would count in court in case of liability lawsuit. Not a lawyer, but these things sound fascinating to me to learn.
You should just hurry up and buy a home. How much have prices increased while youâre waiting? Even if thereâs a 10% correction, youâd still be better having bought when you started looking. 2009 was literally a once in a lifetime event. The last RE correction that big was the great depression.
I know. Prices up 30% since i started 
2 Likes
