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Buachaill
Buachaill, Lawyer
Category: Republic of Ireland Law
Satisfied Customers: 10401
Experience:  Barrister 17 years experience
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I transferred my home into a trust kids in 2009. If I go

Customer Question

I transferred my home into a trust for my kids in 2009. If I go bankrupt now is the house secure from the assigner in bankruptcy?
Submitted: 1 year ago.
Category: Republic of Ireland Law
Expert:  Buachaill replied 1 year ago.

1. Yes, if you go bankrupt now, your former home is now safe from the assignee in bankruptcy. This is because there is only a five year clawback for voluntary transactions (no value given) when a person becomes bankrupt. As more than five years has elapsed since you transferred the house into trust, these clawback provisions are not applicable should you go bankrupt today.