not so fast khemosabi...
on may 6, 2008, eeso and flat rock llc entered into a "memorandum of contract for conditional sale of real estate".
the principles of flat rock llc are a victor reinhard and jay gerber.
on may 6, 2008, eeso was mistakenly deeded the property.
on may 27, 2008, eeso releases ownership and quit claims the property back to flat rock llc. the wording went something like this "for consideration of 1-dollar and other valuable consideration". the quit claim further read "the quit claim deed is being recorded to correct the mistaken recording of a llc warranty deed which was inadvertantely recorded on may 6, 2008. the original llc warranty deed is being held in escrow pursuant to a contract for conditional sale of real estate dated april 9, 2008."
flat rock owns the property. there is no mortgage. there is a contract, however, eeso has yet to meet the conditions of the contract. when/if eeso meets the conditions of the contract, it will own the property. = false financials for 2008 Q4.