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How can I protect my house in Ohio?


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How can I protect my house in Ohio?

Question: How can I protect my house in Ohio?

Answer: You can attempt to try to protect your house by transferring your house to your spouse in anticipation of a lawsuit down the road that you may or may not have. The problem we have is the fraudulent conveyance statute that says that if you have a lawsuit that is pending you can’t start transferring assets in order to not be able to pay the judgment that may be obtained against you in that particular lawsuit. This requires advanced panning, and that would be your best advice if you are trying to protect your house, do some advanced planning and try to transfer the ownership of the house into your spouse’s name or someone else’s name, so that in the event that you are sued then that would not be an asset that would be used to satisfy that judgment.

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