Legal Question in Business Law in North Carolina
If i am afraid a lawsuit is about to be filed against me in the state of nc, can i transfer my assets to my child in order to protect them?(cars, business, and home)
Asked on 4/03/13, 12:39 pm
1 Answer from Attorneys
A transfer like this is deemed to be a fraudulent conveyance. If I were you, I would consult attorney before you make any transfers like this because transfers made to an insider like your child for no money are going to raise red flags.
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Answered on 4/03/13, 2:39 pm
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