Legal Question in Real Estate Law in Florida
asset protection
Hello,
I am looking for asset protection assistance. I would be grateful if you could please advise me of your fees after reviewing our situation:
After 9/11, my husband's U.S. jet charter company went belly up. He did not understand the U.S. court system at the time and was not protected from lawsuits or judgments. In 2002, he was issued a large civil judgment . Unable to pay this, and in dispute of its fairness, we moved to Europe. He has since recovered his profession and is interested in negotiating with the judgment holder; however, that process could take some time. We are interested in purchasing a Florida property and would like to know if there are any legal and safe ways to do this, or is it better to hold off on any U.S. investment until this judgment is resolved? Your input would be greatly appreciated.
Thank you.
2 Answers from Attorneys
Re: asset protection
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
If the judgment(s) is only in your husband's name, the simple solution is to purchase the property in your name alone. If it is to be your primary residenc, once it becomes your homestead, it receives protection from creditors as provided by the Florida Constitution and applicable caselaw. Regardless, as long as the property remains in your name alone, your husband's creditors should not be able to touch it.
Scott R. Jay, Esq.
Re: asset protection
What are the details of the judgment previously entered against your husband? Advise the name of the court and where it is located.
Although the previous answer is accurate, there may be additional routes available.
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