Seems there's no actual buy/sell happening...just the owners moving the asset from their right hand to the left...from one company to another they own. If so, might that allow them to avoid any scrutiny by their lender. But will that absolve them of any obligations and liabilities? Also, will there need to be a formal title transfer? And what about the "$150k in closing costs" JKP yapped about. Does that make sense in light of the above? They already claim to have an appraisal. Who will the responsible parties be then? Will new CEO Diego Baez be responsible for overseeing and managing this apartment 3,000 miles away? If not then why would the Chairman be doing the CEO's job?
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