‘The Juice’s’ kids on the loose in Florida’s real estate market
Florida’s latest real estate magnates are two children who gained fame by sleeping upstairs in their family’s condo while their mother and her friend were stabbed to death at in the Brentwood neighborhood of Los Angeles.
St. Petersburg is now the home of Sydney and Justin Simpson and their mini-real estate empire currently valued at approximately $500,000. Since 2015, the children of O.J. Simpson have purchased 13 properties that include homes and apartments in low-income areas.
The siblings made the real estate transactions through Sydney’s Simpsy Properties LLC, a limited liability corporation.
With all but two properties purchased with cash and not one having a mortgage, questions surround the source of the Simpson children’s spending spree. Those wanting to follow the money trail the most are the families of the late Nicole Brown Simpson and Ronald Goldman.
Another legal battle could be brewing.
While O.J. Simpson was acquitted of murder in one of the most famous jury verdicts, he was found liable for both deaths in a 1997 civil court decision. Currently, he owes almost all of the $33.5 million civil judgment against him.
To date, he has mostly succeeded in avoiding paying the massive debt due to his money being in pensions and other protected annuities.
Fred Goldman’s attorney announced that he would seek bank records and depositions to determine if the properties were purchased with their father’s money. Specifically, he is looking for evidence of a “fraudulent conveyance” or a money transfer to avoid paying debt.
Legal experts claim that Florida law gives an advantage to debtors. “The Juice” may be able to spend his protected money as he sees fit, provided that he keeps the funds separate and did not mix money claimed in a 20-year-old judgment.
Simpson recently returned to the news cycle when he was granted parole after serving time for armed robbery. His release from prison and likely reunion with his children is set for October.
Posted on Real Estate Transactions