This is a complicated matter, you may want to create an LLC and not have your name as a shareholder and buy the property that way,
however be aware if you do file a personal bankruptcy the transfer will be looked into, and the trustee can go after it,
to avoid creditors, consider creating an LLC, and have your dad or spouse as the officers, this way any judgments against you cannot be attached on the LLC,
Can I just have my husband buy the house? We have different last names but are legally married. His name is XXXXX XXXXX the commercial lease although we were married when I signed it in '06. Was signed by my LLC with a personal guarantee by me. His name is XXXXX XXXXX on the foreclosed house's mortgage papers (although he is on the deed). He is not declaring BK; only I am. What kind of lawyer do I need to talk to? It seems like I call them up, they get on the phone with me for 5 mins to talk, and then leave things open-ended. I have talked to (and paid to consult with) so many lawyers over the years I have had these problems. No one seems to help or have any idea what to do since my situation is so complex. Then, I get faulted for making the "wrong" decision on my own... I think people think I should know what to do already (I have a professional degree and went to college for 10 years), but I'm a veterinarian not a lawyer and on top of that, I have twin 4-year-olds to raise...I'm just so frustrated, sorry. =)
Can you clarify this though: Say I declare BK but landlord still gets a judgement against me (I heard that is possible, right?). In NJ it lasts for 20 years and is renewable. So if someone else (dad or spouse) buys the house, and I go through the BK and a couple of years go by, and there's a judgement in place for 100-200K against me that I never paid, can the deed still be transferred back to me and put in my name? Or would that action trigger something (due to the judgement)?
And so husband buys it, but can deed be transferred to me or to both of us (for a dollar or whatever) after a couple of years go by?
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