QUESTION
My husband and I are purchasing a home, he has his own, S Corp business. Will putting my name on the home exclusively help protect our home in anyway?
Asked on Feb 11th, 2013 on Real Estate - Florida
More details to this question:
My husband just incorported his business very recently, and we are purchasing a home. We want our home to be safe in the event any unforseen things occur with his new business. A family member is loaning the cash for home so we don't need both names on the home- is it a protection in any way for either of us to have the home only in my name because my name in not on his business and isn't linked to it?
1 ANSWER
Real Estate Attorney serving Winter Park, FL
at
Swann Hadley Stump Dietrich & Spears, P.A.
Update Your Profile
In Florida your home is constitutionally protected from claims of creditors. It is best to title the home in both names with the designation "husband and wife" after the names. This creates a tenancy by the entireties and protects the property from any judgments against just one spouse. It also creates a right of survivorship between the parties.
Answered on Feb 11th, 2013 at 3:34 PM