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Can my husband be protected from a frivolous lawsuit if he transfers or quits claim to me?

Posted on: 02nd Oct, 2008 03:26 pm
Possible lawsuit from former employee who stole from our company, was caugtht and my husband fired him. He is now threatening to sue. Can my husband sign over his home he owns to me to protect his assets. Will I incur taxes on the transfer?
This is a question for an attorney, which your husband should consult. Your husband should also have an insurance policy on the company that would cover some lawsuits.

If he is threating to sue, and hasn't filed yet, I would assume that he could easily quitdeed the property to you.

It is my understanding that if your husbands company is INC. than people can't come after your personal assets.

If your husband caught this employee stealing, it sounds a bit frivolous to me.
But if you are concerned you should definatly consult an attorney, this way your questions will be answered by someone in the profession of litigation and the correct answers will be given.

look into incorporating the business and what that means for protecting your personal assets.
Posted on: 02nd Oct, 2008 04:47 pm
Hi knden!

If that ex-employee of the company has not filed the law suit, then your husband can easily quitclaim the property in your name. And also note that if your husband's company is INC, then the ex-employee cannot come after your personal assets. It will be better if you can take some legal help.

Feel free to ask if you have further queries.

Posted on: 02nd Oct, 2008 09:18 pm
I used my corporate amex card on personal use also, i'm trying to repay not sure what my former employer is up to but he may want to file a law suite or someoe to me they can filing criminal charges if they want
Posted on: 13th Apr, 2009 11:44 am
kat, are you trying to admit to fraud? have you been accused of fraud? have you lost your job due to the unauthorized use of the card?

a little more information would help us to sort out your issue and (maybe) give some reasonable advice.
Posted on: 13th Apr, 2009 02:12 pm

when the company is incorporated under the company law board then directors are liable only up to the extend of share holding capital and personal property of the director can not be taken over when it comes to lawsuit.

I am not finding any reason for which you should be worried about. :arrow:
Posted on: 28th Apr, 2009 01:22 am
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