Property and liability laws

[bertx]

I am a sole trader undergoing a personl injury claim against myself. I have two properties in this country, both jointly owned by myself and my spouse, only the property lived in has a payable mortgage on it., which we loaned an advance to pay for the second property outright. Can I transfer the ownership of the other property to my daughter so that it is not taken into consideration should any liabilities have to be paid to third partie.

[factor-fiction]

I'm not sure I understand what you are doing. Are you claiming against yourself or your business? And are you hoping to claim for �x but then say you only have assets of perhaps half that amount so someone else (insurer?) will have to make up the difference?
You may need to pay for legal advice on this. I'm not an expert but it sounds a bit dodgy to me and I'm not sure you'd get away with it.

[Skyline D]

I doubt it. I can only imagine that in the same way assets disposed of to avoid them being sold to pay for care are taken back into account so would your second house.

Either way it's going to need legal advice though.

[Mr Veritas]

If you mean can you transfer a property so that you can avoid any damages incurred by you (from a claim by a third party)then I don't think it would make much difference.
If this personal injury claim goes against you,you would have to find the money from somewhere(anywhere) so transferring the property to your daughter would probably make no difference.
The court would view such transferrence(after the claim was started) as just avoidance.
Howeve,as others have said Ethel is the expert in such areas,I hope she will come in on this.

[Solly-C]

The approach or your thinking behind does not add up. If you are trying for your insurance company to pay for the injury to yourself will not work, as the injury has to have caused to a third party by yourself in order to be given protection by the insurance co. If you were trying to take a legal action against your company (a seperate legal entity rather than a sole trader) then the situation will be different. Pls clarify the situation!!