Without full transparency and accountability, healthy capitalism cannot exist.
IMHO, **all** large transactions should be a matter of public record.
If this was an inter-family transaction (or seller-funded loan, etc.), then the record should show that, and there would be no problem with the transaction.
Lots of crimes are actually caught by adult versions of citizen “hall monitors.” They make it their business to investigate things when something looks fraudulent or when it looks like the public/innocent people would be damaged by the behavior in question.
I understand the desire of people to keep certain things private, but they can use LLCs or other vehicles to mask their names, just like Brian pointed out.
Real estate is a big part of our economy, and each transaction has the potential to have ramifications for people outside of the transaction (comps, property tax issues, or fraud that requires taxpayer bailouts!). It’s imperative that transactions are a matter of public record.
