Paterno transfers ownership of house to his wife for $1 - HawkeyeNation Forum
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Old 11-16-2011, 08:51 AM   #1 (permalink)
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Paterno transfers ownership of house to his wife for $1

The move is raising speculation it was done to protect an asset in the event he is found personally liable for negligence in the Sandusky case. His lawyer said it was merely another step in a multi-year estate planning process. Would be interested in OK4P's take on this.

Joe Paterno's Curious Real Estate Move | ThePostGame
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Old 11-16-2011, 08:54 AM   #2 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

LOL, yeah...part of a multi-year estate planning process. They just happened to do it now. Give me a break.
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Old 11-16-2011, 08:59 AM   #3 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

He is making all of the moves that screams he was either involved directly or had firsthand knowledge of what was going on.
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Old 11-16-2011, 09:01 AM   #4 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

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Originally Posted by hawkdrummer1 View Post
LOL, yeah...part of a multi-year estate planning process. They just happened to do it now. Give me a break.
Well, to be fair, he does have more time to worry about trival things such as his estate, now that he is not coaching and harboring a pedophile. #sarcasm

Another admission of guilt, imo.
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Old 11-16-2011, 09:03 AM   #5 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

It makes total sense, and is just an indication he's getting quality legal advise. Of course he's going to get sued over this, it's America, a place where you can spill coffee on yourself and sue the restaurant because they gave you hot coffee.

Bottom line it's something a smart person would do regardless of whether they thought they were guilty or not.
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Old 11-16-2011, 09:04 AM   #6 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

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Originally Posted by hawkeye12345 View Post
He is making all of the moves that screams he was either involved directly or had firsthand knowledge of what was going on.
He's also making all the moves that someone who is innocent would make also.
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Old 11-16-2011, 09:23 AM   #7 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

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Originally Posted by DuffMan View Post
It makes total sense, and is just an indication he's getting quality legal advise. Of course he's going to get sued over this, it's America, a place where you can spill coffee on yourself and sue the restaurant because they gave you hot coffee.

Bottom line it's something a smart person would do regardless of whether they thought they were guilty or not.
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He's also making all the moves that someone who is innocent would make also.
Exactly. Paterno is going to get sued (among many other people). I'm not going to begrudge someone for taking legal advice.

Also for anyone out there, if you get accused of something of significant magnitude whether you did it or not get an attorney. A person who represents themselves has a fool for a client.
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Old 11-16-2011, 09:34 AM   #8 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

I think the fact that he made this move less than 4 months before all of this came out is what is raising some eyebrows.
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Old 11-16-2011, 09:51 AM   #9 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

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He's also making all the moves that someone who is innocent would make also.
that is correct. my wife as full ownership of our house. plenty of legit reasons to do what Paterno did. why did he do it? only he, his wife and his advisors know.
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Old 11-16-2011, 10:01 AM   #10 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

Guys he did this 4 months ago. I don't know if he was getting legal advice than. I think this may just be a coincidence
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Old 11-16-2011, 10:13 AM   #11 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

he knew he had given statement to grand jury, and knew sooner or later this would come out. just being protective, no fault in that.
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Old 11-16-2011, 10:14 AM   #12 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

just another thing that uninformed people will blow out of proportion without any basis or reason. the title of this thread is a good example.
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Old 11-16-2011, 10:15 AM   #13 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

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I think the fact that he made this move less than 4 months before all of this came out is what is raising some eyebrows.
Isn't it possible that 4 months ago JoePa had some idea that this was going to happen?
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Old 11-16-2011, 10:22 AM   #14 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

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Isn't it possible that 4 months ago JoePa had some idea that this was going to happen?
Considering that he went before the grand jury in like March? Yeah.

Just think about that: Paterno knows something bad is coming for months. Yet, he goes into this season anyways, when the storm could hit at any moment. And when it hits, he still tries to pull a Jedi mind trick on everybody.

Which just goes to show how huge this man's ego was when the news broke and he still refused to step down immediately.
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Old 11-16-2011, 10:24 AM   #15 (permalink)
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Re: Paterno transfers ownership of house to his wife for $1

You guys have it all wrong... He's getting rid of all assets so that medicaid can pay for his nursing home stay
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