That being said, if you have documentation that you deeded the house away AND your house debt was discharged in BK, a lender should be able to see that your liability and debt on the house are extinguished.

If you are eligible for the owner occupied legal residence special assessment or the agricultural use special assessment and fail to file the proper application, your tax liability may be over three times higher because it will be classified at the other real property rate."

I figure it's low maintenance, lie liability with a good return.....the only problem is km having trouble finding such a property.

We also would like to avoid them being named as an owner to prevent them from any liability (though an umbrella policy may be the solution to that).

It's a liability issue for the listing agent.. 

There is unlimited liability of all partners in a JV and YOU are liable for the actions of ALL your other partners.

Any experience writing contracts that release me from liability due to problems the tenants claim are related to the land?

Thanks Guy, I have spoken to an attorney, and basically the only thing to do is to try and get a release of liability on the contract and do up a new contract and follow all the guidelines.

That said, some general principles one should consider when doing this, is that it may open your corporation up to liability if you are transferring assets around all "willy nilly".

Hi Jason Gerasia and Rob Parmar,Thank you both for this conversation.Jason: I have been considering the idea of having a tenant manage the snow removal but am concerned about liability with regards to the tenant getting injured.