Wholesaling Short Sales by Assigning Trust Question
First, is this illegal (by the way, I am in the state of MO)? Second, if it is not illegal, how is it not?
I am coming across conflicting articles (http://speakingofrealestate.blogs.realtor.org/2011/09/07/fraud-are-your-clients-using-reverse-staging/) and past posts; some adamantly say it is illegal, some say they are submitting a contract in an LLC or Trust and then assigning the next day (wholesaling the short) and that this is legal.
Any insight is much appreciated, from either side, backed up with reasoning.