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How best can I transfer title of my home to my two teenage…

How best can I...

How best can I transfer title of my home to my two teenage children without transferring ownership? A house which is an income property for which I also pay rent to.

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

I am in Ontario, Canada

Lawyer's Assistant: Has anything been filed or reported?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

The reason for this question is to help me not lose my house when I need to go on Welfare.

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Answered in 1 minute by:
11/23/2017
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 105,594
Experience: Lawyer
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Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

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I am sorry to hear of this difficult situation and I also am sorry that I do not have good news.

First, you cannot transfer title without transferring ownership.

Second, if you make any transfer of any assets to avoid creditors or to render yourself eligible for social assistance the court would set aside the transfer and in fact the transfer would be considered to be fraudulent. There is no way to achieve this goal.

I wish I could have given you a different answer.

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

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Customer reply replied 8 months ago
Thank you very much for you candid answer. Much appreciated.Would incorporating the ownership of the house be beneficial?

No. It's all the same. You cannot transfer the title to a family member or a corporation.

Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 105,594
Experience: Lawyer
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Debra and 87 other Canada Law Specialists are ready to help you
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Customer reply replied 8 months ago
Thank you for you help.
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