the couple signed over the property to Wells Fargo to help satisfy a larger debt, she said.
Well, the bank now owns it, it can do what it wants with it. The only dodgy part is that a company official is getting to use it and is presumably paying a lot less than market value, but that value received isn't being reported to the IRS as part of his income received.
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Date: 2009-09-14 02:35 am (UTC)Well, the bank now owns it, it can do what it wants with it. The only dodgy part is that a company official is getting to use it and is presumably paying a lot less than market value, but that value received isn't being reported to the IRS as part of his income received.