give my wife the house

W

WebBoard

Guest
From: Anonymous


Hi everyone,
In the quest for financial freedom through IPs, there is a worry at the back of our minds that there is a possibility that we might lost the family home. I am thinking to transfer the title of the home to my wife (now it's in joint names), then I will borrow money for IPs. Can anyone see the disadvantages of doing this way and what
are the costs for the ownership transfer.
Thanks.
 
Last edited by a moderator:
Reply: 1
From: Mark Laszczuk


Anon,
There is a saying that goes something along the lines of: 'Fear strikes in the hearts of the uneducated'. In other words, you only fear that which you do not understand. There is plenty of info. and people on this forum that can alleviate your fears regarding IP's. There are ways you can structure yourself so that the family home isn't in danger. Read the archives, ask questions and I'm sure you will no longer feel the fear after a while.

Mark
'no hat, some cattle'
 
Last edited by a moderator:
Reply: 2
From: PT Bear


Anon,

If you take out a loan against your family home, it probably won't matter whos name its in if there's a problem.

You might want to look at trust structures for asset protection. There's a lot of information on this forum about that sort of thing - do a search on 'trusts'. Also talk to your accountant.

PT_Bear
 
Last edited by a moderator:
Top