Legal Question in Real Estate Law in Florida

Is it legal for a relative to sell the property their business is located in, to another relative, in order to avoid foreclosure.


Asked on 9/23/10, 5:33 pm

1 Answer from Attorneys
Shelly Schellenberg MI & FL private practice

Banks that foreclose are very good at ferreting out assets that have been fraudulently transferred to avoid attachment by creditors. Tell your relative to take all his documents to a real estate attorney for review. Banks really just want their payments, and are often willing to renegotiate the loan to make the payments more affordable. Banks don't need another vacant property to take care of.

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Answered on 9/28/10, 7:16 pm


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