A proposal to stop the purchase of property by nameless numbered entities ("123 LLC") would have my full support.
It's not like foreign buyers put down "China Inc" on the purchase forms.
It's not like foreign buyers put down "China Inc" on the purchase forms.
Basically, you can say (in legalese) that X group can’t be the controller of the land. They can open trusts or LLCs or whatever… but it’s transitive so their trust can’t name them as the beneficiaries and their LLCs can’t honor them as shareholders.
There are already laws regarding naming the RPI:
[1] https://definitions.uslegal.com/r/real-party-in-interest/
[2] https://en.wikipedia.org/wiki/Real_party_in_interest
[3] https://www.projectjurisprudence.com/2017/08/whos-real-party...
For what it's worth, the formation of an LLC is a state affair, and every state has its own rules around requirements, reporting, transparency, etc. Most states keep the paperwork public; some states don't, but these are not the states where housing shortages are all that profound.
If this hypothetical low income person owned the LLC so that others could operate it, nothing is stopping them from cleaning out the LLC's bank account whenever they want since they own it!