Can I form a LLC to deed my home over to in order to avoid the foreclosure being filed personally against me and my wife?

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Can I form a LLC to deed my home over to in order to avoid the foreclosure being filed personally against me and my wife?

A lis pendens already been filed.

Asked on February 22, 2012 under Real Estate Law, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you attempted to transfer the property at this late date your creditor would be able to set it aside and go after you personally anyway.  Please try and go and speak with some one to see if they can help give you an idea if there are other options, like a deed in lieu of foreclosure to avoid the charges associated with the suit.  Just make sure that you try and have the deficiency waived.  Good luck.


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