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I am looking for an example of a straw party agreement

Customer Question
I am looking for...

I am looking for an example of a straw party agreement between an agent and an undisclosed principal to purchase real property in the agent's name and then subsequently resale it to the principal after the initial purchase.

Lawyer's Assistant: What state are you in? And have you consulted a local attorney?

Texas and no

Lawyer's Assistant: Has anything been officially filed? If so, what?

No

Submitted: 7 months ago.Category: Business Law
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Answered in 15 minutes by:
11/30/2017
Business Lawyer: Edward Young,
 replied 7 months ago
Edward Young
Category: Business Law
Satisfied Customers: 512
Experience: Principal Attorney at The Law Offices of Edward D. Young, III
Verified

Hi. My name is ***** ***** I am a licensed attorney. I would be happy to provide assistance. Please give me a moment to formulate a response. Also, please keep in mind that our conversation does not include an attorney-client relationship and this is for general information purposes only.

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Customer reply replied 7 months ago
Understood
Business Lawyer: Edward Young,
 replied 7 months ago

This is going to take some time. May I get back to you in two hours?

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Customer reply replied 7 months ago
Are you anticipating you will have an example in 2 hours?
Business Lawyer: Edward Young,
 replied 7 months ago

Yes and it may be sooner than that.

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Customer reply replied 7 months ago
sounds good
Business Lawyer: Edward Young,
 replied 7 months ago

Why are you purchasing the property this way? Are you a famous or rich person and believe you will get a better price? Usually, people who want anonymity create an LLC and a straw person buy the property.

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Customer reply replied 7 months ago
long running disagreements/bad blood with the current property owner prevents a direct sale so an agreement is needed where an individual will purchase it in their name and close on it in an initial sale and then resale it in a second sale
Business Lawyer: Edward Young,
 replied 7 months ago

Ok. Here is a draft agreement. You will have to describe in here how you plan to reimburse the agent for the costs of purchasing and transferring the property to you.

I hope this helps.

Please go ahead and rate me. If you have any follow-up or clarification questions, please ask! There is no additional fee. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service (hopefully Excellent/5 stars!) at the top of the screen. Otherwise, I receive no credit for assisting you. I thank you in advance for taking the time to provide me a positive rating! A BONUS is also appreciated if you feel I've earned one today.​​

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Business Lawyer: Edward Young,
 replied 7 months ago

Were you able to open the draft agreement I sent you? do you have any more questions? If not, go ahead and rate me. I get no credit for my work unless you rate me. If you have any follow-up or clarification questions, please ask! There is no additional fee. ​

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