92,082
An undisclosed principal would be the same idea when Disney was looking for land in Florida for his theme park. The agent represented the principal, however the principal (Disney was not disclosed... at least at the time from what I recall).... The undisclosed principal still could be held liable and sued..in certain instances... so I would suppose that would be one reason an undisclosed principal must be disclosed.
That being said, I am not an attorney and don't practice law, so I would always advise to speak with your attorney.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Mary Yonkers
Erie, PA
-
Daniel Lloyd
Holladay, UT
2,684,569
Disney World Florida is the classic "straw buyer". A reporter from Orlando Sentinel (when reporters were actually journalists and not political hacks) got the scoop.
When must they be disclosed? Maybe when ordered by a judge.
As for principal buyers, add the term "and or assigns" to the contract. For example, "John Doe as buyer, and or assigns". You can change the principal buyer (assign the contract) one minute before closing (unless a lender is involved).
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Gita Bantwal
Warwick, PA
4,582,184
Why do you ask?
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Gita Bantwal
Warwick, PA
-
Ron and Alexandra Seigel
Carpinteria, CA
430,282
Like Jon K. Judd said with the Disney land purchase in Florida would be an undisclosed principal. I believe you would have to consult your state laws and an attorney about if and when a principal had to disclose.
Regardless, if someone with enough money wanted, they are going to have legal counsel take care of things so they are sheltered.
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Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Kathleen Daniels, Prob...
San Jose, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Daniel Lloyd
Holladay, UT
-
Michael Jacobs
Pasadena, CA
-
Mary Yonkers
Erie, PA
5,583,328
oh, school's in session again.... huh
-
Tony and Suzanne Marri...
Scottsdale, AZ
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
-
Roy Kelley
Gaithersburg, MD
1,553,094
this is an undisclosed pricipal; unless you really look like this Daniel.
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Debe Maxwell, CRS
Charlotte, NC
-
Thomas J. Nelson, REAL...
La Jolla, CA
-
Michael Jacobs
Pasadena, CA
-
John Juarez
Fremont, CA
-
Diana Dahlberg
Pleasant Prairie, WI
7,863,173
You need to learn how to use Google...
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Gita Bantwal
Warwick, PA
-
Michael Jacobs
Pasadena, CA
-
Mary Yonkers
Erie, PA
2,221,377
Utah class is back in session. Welcome back.
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
1,728,156
Is that who your picture is?
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Roy Kelley
Gaithersburg, MD
3,349,404
Others have answered here. I wish you all the best with your studies.
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Roy Kelley
Gaithersburg, MD
4,434,177
Fred has a good answer.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
-
Gita Bantwal
Warwick, PA
5,772,581
Daniel,
I think that Roy Kelley gave you a good answer. When dealing with celebs and titans of industry sometimes their corporation is the principal. It does not have to disclose who owns the corporation or the trust. It is done for privacy, A
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Diana Dahlberg
Pleasant Prairie, WI
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Gita Bantwal
Warwick, PA
2,784,566
Anyone participating in a Transaction should be identified as called for
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Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
-
Mary Yonkers
Erie, PA
6,417,434
I like the profile shot Daniel.
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
647,340
an undisclosed principal is the puppet master. only when required.
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Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
1,506,013
An undisclosed principle would be someone using a corporation to buy a property. May still be required to disclose to the feds under the anti-money laundering rules they have in Miami, NY and LA.
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
5,112,471
What Roy Kelley said. As for when one must be disclosed, depends on your jurisdiction.
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Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
-
Roy Kelley
Gaithersburg, MD
715,782
I think you have your question answered.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
1,231,853
Several good answers here.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
5,060,494
See what Roy Kelley said. Disclosure would depend on your local laws and the situation.
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Roy Kelley
Gaithersburg, MD
-
Debe Maxwell, CRS
Charlotte, NC
3,988,013
You have gotten some good examples and why. It is rare in my area.
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Roy Kelley
Gaithersburg, MD
-
Debe Maxwell, CRS
Charlotte, NC
1,322,984
Celebrities, athletes, well know business leaders, government figures and others often do not want a buyer to know who is really buying the property. That knowledge could influence negotiation on price, among other things. When does the identity of the principal have to be disclosed? Can’t help you with that one.
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Daniel Lloyd
Holladay, UT
-
Michael Jacobs
Pasadena, CA
679,404
Roy Kelley has given you the best answer. Wishing you the BEST in your studies!
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Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
1,712,776
I believe in disclosure regardless.
-
Michael Jacobs
Pasadena, CA
-
Diana Dahlberg
Pleasant Prairie, WI
766,079
This occurs when the principal is not disclosed. A principal needs to be disclosed prior to the close of escrow.
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Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
5,239,001
The greatest example was Disney in Florida. The one that will get you in trouble is buying or selling a property in which you have an interest and not disclosing your position
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Samantha Bright
West Valley City, UT
5,254,035
You have several great answers. Best of luck with your course.
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Roy Kelley
Gaithersburg, MD
3,986,308
1,598,452
5,877,335
3,071,489
4,800,132
4,319,773