Posted on: 14th Nov, 2010 12:14 pm
I have a duplex and rent 1 side. I only recieve a Homestead exemption on the half I live in. I live in Florida. If I do a" Lady Bird "deed to my daughter, will the entire property be exempt if I file bankruptcy? Or from creditors putting liens against it?
Thank you
Thank you
Hi genie,
Once you transfer the property to your daughter, she will become the owner of the property. However, you won't be able to file bankruptcy immediately. You will have to wait for at least a year in order to file bankruptcy. If you file bankruptcy before that then the property transfer will be considered as fraudulent.
Thanks
Once you transfer the property to your daughter, she will become the owner of the property. However, you won't be able to file bankruptcy immediately. You will have to wait for at least a year in order to file bankruptcy. If you file bankruptcy before that then the property transfer will be considered as fraudulent.
Thanks