Legal Question in Real Estate Law in California

Re: Home Protection

It is difficult to do so entirely, however, there is a means of protection available through the use of various trusts combined with business entities.

We have extensive experience with trusts and estates and can assist you with protecting your assets.

You can learn more about our firm on our website No-Probate.com. We can be contacted through the site or at the phone, email and address provided here on LawGuru.

Regards,

Scott Linden

Re: Home Protection

Sorry, I cannot answer the question as written.

It is way too broad and doesn't give any details or facts.

What do you anticipate will bring on a lawsuit?

This is merely a guess, but are you asking about a quitclaim deed? That passes title to another (very simple answer) and would remove your name from the deed. But, if you are already anticipating law suits, there might be fraud involved in any transfer.

Re: Home Protection

Method Number One is to avoid the suit in the first place. Most of us go through life without ever being sued.

Next, avoiding loss due to kawsuits would seem to require proper defense of the suit, so that you win, or maybe I should say have the best possible chance at the lowest possible adverse money judgment.

The third and fourth protections are insurance and homestead.

Generally, your basic homeowner's policy has some liability coverage, mostly related to liability arising incident to your role as a homeowner; it would not cover you for a business lawsuit or traffic accident. Each of these categories of exposure also can be covered by insurance, of course.

In California, there are two kinds of homestead - automatic and declared. The coverage provided by each is similar and overlapping, but not identical, and a homeowner threatened with suit may want to consider filing a declaration of homestead. In any case, homesteads do not prevent loss of a particular home; all they do is prevent seizure of all of your equity.

Ruses such as giving it to a relative and renting back are usually fraudulent transfers and can be set aside by creditor lawsuit, compunding the problem and tarring and feathering the collaborating relative.