this post was submitted on 15 Apr 2025
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Trippin' Through Time
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Try tracking down ownership of the property a bank sits on.
It's wild. They'll buy it under an LLC they dissolve, and the ownership transfers to an heir LLC in another state that's also dissolved, rinse and repeat for 40 steps.
When I ask for a bank building to show proof of ownership in a development application, they usually just cancel the project because it'll take 8 months and 150 grand in lawyers' fees just to prove they own their own fucking building, and a new ATM lane just isn't worth it.
Why do they do that?
It sounds like a tax dodge. New LLC in charge until just before the end of the tax year then it's wound down and the property moves to another