Does Shaq know something about Orlando real-estate that others don’t? Who sells their house for $10?
Generally speaking it’s either a woman who is trying to piss off a soon-to-be ex-husband, but then again a sale like that typically involves the man’s “mid-life crisis” prized Ferrari.
Then there was lying lecherous Leftist Barbara Streisand who gave many of her homes to her husband James Brolin to avoid paying taxes.
Streisand, 68, who is estimated to have amassed a $600 million fortune during a legendary 40-year career swapped five properties to her husband of 12 years in 2008 under the ‘Interfamily Transfer and Dissolution’ property transfer loop-hole.
This permits the transfer of ownership within a family without the home actually being sold; the benefits are if you do this then the property owner can avoid increases in property tax by the authorities.
Why would Shaquille O’Neal sell his 3,904 square foot house to Yves Paul Demesmin, a Haitian business man, for $10? According to a TMZ report,
Shaq bought the house in 2012 for $235,000, and turned over the 5 bedroom, 4 bath property to Demesmin at the beginning of May. Demesmin owns a tax services company in Orlando that uses the motto, “The Little Man with Good Experience.”
That must have been a REALLY good experience with a very happy ending, as it certainly is for Demesmin. And who knows, as Shaq could have felt magnanimous, and made this huge gesture to help a brother in need.
Then again, in the Era of Obama, perhaps Shaq was just pulling a “Streisand” and trying to avoid capital gains taxes. Either way, it’s his money to do as he wishes.