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Can a home be involved in a lawsuit?

Expert: Tony Frost

Steve asked:

If a house is put in the spouse's name only, prior to starting a sole propriatorship is the house exempt from any lawsuit the (husband) sole propriator may be involved in?

Tony Frost answered:

If the husband transferee is solvent at the time of transfer of his interest in the home, the transfer is valid and cannot be successfully challenged by a creditor in future. If the transfer is made while the husband is insolvent or on the brink of insolvency, various statues can be invoked by a creditor (including the Fraudulent Conveyances Act)seeking to reverse the transfer.

About the author

Tony Frost is a litigation, commercial and estate lawyer with Mills & Mills LLP located at Yonge and St. Clair in Toronto. Click here for Tony's Profile.

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