I disagree with you. Robert.  Joe was the high bidder and subsequent assignee to the foreclosed property.  That gave him fee simple which he transferred to the LLC.  An auction, if not "reserved", means that high bidder takes the goods, in this case the property foreclosed.  He is mentioned as the assignee to the property.  He gets what the bank owned which is fee simple while the bank cuts its losses and gets the property off its to-do list.  His transfer to the LLC is what is so far a successful bid to both get the property and hide his interest - much like a money-laundering act.  LLCs are notorious these days from campaign finance laws as vehicles to hide owners or monies in order to shield from personal liability.  His transfer to his family members - regardless of whether he is a named manager or not - completes the scheme to hide his assets from the IRS.  It amounts to a fraudulent transfer and clouds the title.