Fictitious mortgage

spicyayam

Stuart, who Mr Bolte claims was almost completely estranged from his father, argued in court that it appears there was a “fictitious” $350,000 mortgage on the Bali villa, which served to shrink the estate.

I wonder if they are talking about the usual fake mortgages people use for nominee agreements here: http://www.couriermail.com.au/news/queensland/stink-over-newsreader-ian-rosss-will-turns-toxic/news-story/a295104407c66a4dbc51498024c67592

matsaleh

Cannot access the story. "Only members can access our premium articles and features!

Markit

You can see where Spicy spends all that ill gotten wealth

spicyayam

If you copy and paste the 2 paragraphs I quoted into Google, you should be able to click through to read the whole article.

Mark

I wonder if they are talking about the usual fake mortgages people use for nominee agreements here: http://www.couriermail.com.au/news/queensland/stink-over-newsreader-ian-rosss-will-turns-toxic/news-story/a295104407c66a4dbc51498024c67592

Read the article. If that is the case then shouldn't the mortgage be an asset of the estate? In my understanding of the 'fictitious mortgage' arrangement the foreign 'owner' holds a mortgage against the property to protect themselves from the nominee selling the property without consent.