Posted on: 08th Oct, 2009 09:00 am
I am expecting a law suit from a credit card creditor which may put a lien on my Oklahoma home. I would like to transfer ownership of my home to my business and then rent it from my business. My business is a corporation. In doing this I would expect that a lien could not be put on my home.
Could/should I do this?
Could/should I do this?
i think you can do this by doign a quit claim deed.
but it may look like a fraud, if the law suit is already in process
but it may look like a fraud, if the law suit is already in process
Hi pkinn,
In my opinion, you should not transfer the property to a corporation as it could be considered as a fraudulent activity on your part. The creditor can penalize you for this. In my opinion, you should have a word with your attorney first and then decide your course of action to save the property.
Thanks
In my opinion, you should not transfer the property to a corporation as it could be considered as a fraudulent activity on your part. The creditor can penalize you for this. In my opinion, you should have a word with your attorney first and then decide your course of action to save the property.
Thanks