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Updated about 1 year ago,

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2
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Masooma K.
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2
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Buying property from irrevocable trust that might get sued later

Masooma K.
Posted

What are the risks in buying a property from a person facing legal action who recently transfered said property to an irrevocable trust? Specifically, the person was charged this March 2023 for embezzlement of ~2MM USD from a local company. The property was transferred to the trust in May 2023. Would we be on the hook for 1) fraudulent conveyance or 2) what if seller files for bankruptcy within 2 years of this transaction.

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