Joe Paterno sold home in move that could protect assets, Joe Paterno sold family home to his wife for $1, N.Y. Times says, in move that could protect assets. The New York Times is reporting that ex-Penn State football coach Joe Paterno, 84, in July transferred ownership of his State College home to his wife, Sue, for $1. But without more information from the Paternos, it's impossible to say why. Their lawyer told the newspaper that the move was just part of estate planning and unrelated to the Jerry Sandusky child sexual abuse scandal, which led to Paterno's firing a week ago. Sandusky was arrested earlier this month, but The Patriot-News first reported about a grand-jury investigation of Sandusky in March.
A lawyer not connected to the case is cited as saying the move could protect assets if Paterno is sued over the scandal. Paterno home sold for $1, Paterno $1, Joe and Sue Paterno, Joe and Sue Paterno, Jerry Sandusky, Joe Paterno sold home in move that could protect assets, paterno house transfer won't shelter him,
The house is valued at more than a half million dollars.
Source:pennlive
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