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yamaha_1fan
What happens if LEO trys to seize an assett like a house or automobile that is being financed? Do you just loose it or do they take it and your still stuck paying for it?
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yamaha_1fan
I didnt think they could just take it and leave the finance company holding the bag
Well, none of these matters are cut and dry. Nuances are endless. Cases on both sides, similar to IRS matters. (In some cases IRS allows up to 20% equity in a property before considering seizure viable, before of course isn't free to take something and sell it....might cost 20k or more to dump something....)
(I always minimal entry/LTV,etc......ie: securing things with as little down as possible....keeping improvements off the books, etc...)
Same as anything else.....you do some searches, see what you can come up with, review cases, etc.
(But, see, that comes right back around......ie: details......can documented source of income cover mortgage in first place?, because might be reviewed in worse case scenario....)
Case resented earlier in another thread (San Ysabel(sp?) cave-warrant) not a bad example of investigation into your financial matters....even including credit card and mortgage applications...(Which is actually silly because loads of people lie on all those anyway
...but, when your running something.......one see's that can come back to bite you in ways it doesn't an average guy, ya know?.....)
Bottom line man, you have 2 options......(with "extra" money....) either you try and protect it the best as you can from future seizure (which you may or may not be able to), or, you keep it in cash and tangible assets secured.....(ie: Gold, other items not much good if they are in the house searched, or, if in a safety deposit box that is one of first things grabbed, ya know?.......)
If you own property, always a better bet because you can also bury stuff, and, be sure that even if property seized...you can get in there and retrieve whatever you need to..(ie: cash in walls, bullion in walls, yard, etc...)
Edit: I've frequently said over the years I could do the job of a forensic accountant, and, don't consider that a bold statement. People seem to always overlook what would you see if you looked...
Applies to anything......financials, indoor, outdoor, sales, surveillance.....etc...
If you looked/reviewed...what would you see...
If you can see it....so can they
...
(I always minimal entry/LTV,etc......ie: securing things with as little down as possible....keeping improvements off the books, etc...)
Same as anything else.....you do some searches, see what you can come up with, review cases, etc.
(But, see, that comes right back around......ie: details......can documented source of income cover mortgage in first place?, because might be reviewed in worse case scenario....)
Case resented earlier in another thread (San Ysabel(sp?) cave-warrant) not a bad example of investigation into your financial matters....even including credit card and mortgage applications...(Which is actually silly because loads of people lie on all those anyway
...but, when your running something.......one see's that can come back to bite you in ways it doesn't an average guy, ya know?.....)Bottom line man, you have 2 options......(with "extra" money....) either you try and protect it the best as you can from future seizure (which you may or may not be able to), or, you keep it in cash and tangible assets secured.....(ie: Gold, other items not much good if they are in the house searched, or, if in a safety deposit box that is one of first things grabbed, ya know?.......)
If you own property, always a better bet because you can also bury stuff, and, be sure that even if property seized...you can get in there and retrieve whatever you need to..(ie: cash in walls, bullion in walls, yard, etc...)
Edit: I've frequently said over the years I could do the job of a forensic accountant, and, don't consider that a bold statement. People seem to always overlook what would you see if you looked...
Applies to anything......financials, indoor, outdoor, sales, surveillance.....etc...
If you looked/reviewed...what would you see...
If you can see it....so can they
...
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yamaha_1fan
my bad Julian, I was really referring to driving down the road, getting popped in my 60k car with a few pounds. Previously LEO wanted to seize a car I used to get to the grow but released it after they were told it was not mine. Maybe they released it for other reasons, who knows.
I was just wondering what would happen if I did get busted and what would happen to the car. The car is financed and I would not be heart broken if I lost it. Actually I would be a little more worried about the pounds I got busted with.
So I am talking about the car or house used to transport or manufacture the MJ. I know seizing proceeds from drug dealing would require some investigation and proof of legitimate funds.
I was just wondering what would happen if I did get busted and what would happen to the car. The car is financed and I would not be heart broken if I lost it. Actually I would be a little more worried about the pounds I got busted with.
So I am talking about the car or house used to transport or manufacture the MJ. I know seizing proceeds from drug dealing would require some investigation and proof of legitimate funds.
Same applies. Minimal equity on everything. (Which is actually a smart financial move if one is making money, or uses their money to make money....)
Same can be found on Wall Street at highest levels....why spend 50MM on home when you can rent it for 1MM a yr, and that 50MM you didn't spend enables you to make 10MM year, etc...(I've seen stuff like that...)
Could also lease....(cars)....again, minimal down, minimal payments (leasing not bad, you get really nice stuff for a hell of a lot cheaper than buying it.....)
Same,all applies=Equity....(just finished reading a case where truckers rig wasn't seized because no equity...he was running loads within his loads...)
Edit: Note: Good example of case in another thread (San Ysabel cave)...guy ws channeling all his money into properties(equity=CASH FOR THEM) and part of his deal was to give up his property(ies)....ie: Shakedown....pay us off and we'll cut you a deal.......
Purpose of seizures is they want to make money.. (It's a money thing, not "justice"..it's a fuckin shakedown, nothing more...."juice"....)
Same can be found on Wall Street at highest levels....why spend 50MM on home when you can rent it for 1MM a yr, and that 50MM you didn't spend enables you to make 10MM year, etc...(I've seen stuff like that
...)Could also lease....(cars)....again, minimal down, minimal payments (leasing not bad, you get really nice stuff for a hell of a lot cheaper than buying it.....)
Same,all applies=Equity....(just finished reading a case where truckers rig wasn't seized because no equity...he was running loads within his loads...)
Edit: Note: Good example of case in another thread (San Ysabel cave)...guy ws channeling all his money into properties(equity=CASH FOR THEM) and part of his deal was to give up his property(ies)....ie: Shakedown....pay us off and we'll cut you a deal...
....Purpose of seizures is they want to make money..
(It's a money thing, not "justice"..it's a fuckin shakedown, nothing more...."juice"....)
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Unless you own it outright its pretty much owned by the loan company. No one else can legally get a title on it without clearing any and all liens on it. At some point I think it wouldnt be fair to the loan companies to foot the loss while the police sit on it and wait the appropriate time for appeals, or if it sells at auction.
than the bank will hound you for the debt.. your better off driving a junker with no lien when you want to do something shady... let them take the fuck thing and atleast you don't have to worry about the bank coming to you for the loan..
its bad enough your getting busted.. you don't want to ruin your credit while your at it
its bad enough your getting busted.. you don't want to ruin your credit while your at it
