Can I Protect Some Assets, Such as a Vacation Home, By Transferring Title to Relatives Prior to Filing for Bankruptcy? -

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, Sep. 7, 2008

Can I Protect Some Assets, Such as a Vacation Home, By Transferring Title to Relatives Prior to Filing for Bankruptcy?

No. You will be asked whether or not you have transferred property within a year prior to filing. The trustee can cancel the transfer and recover the property for your bankruptcy estate. If the trustee discovers that you made the transfer with the intention of defrauding any creditor, you may be denied discharge and face charges of committing a fraudulent act.