Posted on: 07th Sep, 2010 02:00 pm
I would to transfer ownership of a rental property to my young adult child to have in not considered in a bankruptcy filing? Is this feasible and/or legal?
[size=9:0c3ac117f1][color=Red:0c3ac117f1][Email address deleted as per forum rules. Thanks.][/color:0c3ac117f1][/size:0c3ac117f1]
[size=9:0c3ac117f1][color=Red:0c3ac117f1][Email address deleted as per forum rules. Thanks.][/color:0c3ac117f1][/size:0c3ac117f1]
Hi melody,
Transferring property just before bankruptcy filing will be considered as fraudulent and the bankruptcy trustee can penalize you for it. If you transfer the property now, you should wait for at least 1 year and then file bankruptcy.
Thanks
Transferring property just before bankruptcy filing will be considered as fraudulent and the bankruptcy trustee can penalize you for it. If you transfer the property now, you should wait for at least 1 year and then file bankruptcy.
Thanks