Strawperson
Encyclopedia
A strawperson or straw man is a figure not intended to have a genuine beneficial interest in a property
, to whom such property is nevertheless conveyed in order to facilitate a more complicated transaction at law.
Under common law
, property owners cannot transfer their own property to themselves; this rule creates a barrier to certain forms of conveyances, most notably to creating a joint tenancy with another party. The grantor therefore conveys the property to a strawperson (often a lawyer
or the lawyer's secretary), who in turn creates a second deed
conveying property to the original grantor and their desired joint tenant(s). This is a legal means of complying with the Four Unities Rule.
A strawperson at times is someone engaging in some other kind of transaction where the principal remains hidden or to do something else which is not allowed.
A straw person is also "a person of no means," or one who deliberately accepts a liability or other monetary responsibility without the resources to fulfill it, usually to shield another party.
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
, to whom such property is nevertheless conveyed in order to facilitate a more complicated transaction at law.
Under common law
Common law
Common law is law developed by judges through decisions of courts and similar tribunals rather than through legislative statutes or executive branch action...
, property owners cannot transfer their own property to themselves; this rule creates a barrier to certain forms of conveyances, most notably to creating a joint tenancy with another party. The grantor therefore conveys the property to a strawperson (often a lawyer
Lawyer
A lawyer, according to Black's Law Dictionary, is "a person learned in the law; as an attorney, counsel or solicitor; a person who is practicing law." Law is the system of rules of conduct established by the sovereign government of a society to correct wrongs, maintain the stability of political...
or the lawyer's secretary), who in turn creates a second deed
Deed
A deed is any legal instrument in writing which passes, or affirms or confirms something which passes, an interest, right, or property and that is signed, attested, delivered, and in some jurisdictions sealed...
conveying property to the original grantor and their desired joint tenant(s). This is a legal means of complying with the Four Unities Rule.
A strawperson at times is someone engaging in some other kind of transaction where the principal remains hidden or to do something else which is not allowed.
A straw person is also "a person of no means," or one who deliberately accepts a liability or other monetary responsibility without the resources to fulfill it, usually to shield another party.