A technique used to reduce equity in order to prevent foreclosure. The title of the property is renounced by the owner and transferred to the spouse thus protecting the asset from the creditor's reach. This is the most common equity stripping method since it requires little cost.
Related information about spousal stripping:
- Spousal Stripping Definition | Investopedia
An equity-stripping technique used to reduce the equity in a property in order to avoid foreclosure by creditors. Spousal stripping is simply the process of ...
- Equity Stripping Definition | Investopedia
... to administer some type of legal judgment. The most common forms of equity stripping are spousal stripping and home equity lines of credit (HELOC).
- Equity Stripping Leaves Creditors Empty-Handed
Sep 9, 2009 ... Traditionally, the most common form of equity stripping (known as spousal stripping) was to quitclaim the title to a spouse who was less likely to ...
- What is spousal stripping? definition and meaning
Definition of spousal stripping: A technique used to reduce equity in order to prevent foreclosure. The title of the property is renounced by the owner and ...
- What is equity stripping? definition and meaning
Related Terms. spousal stripping. Browse by Letter: #ABCDEFGHIJKLMNOPQR STUVWXYZ. Resources. Browse by subject · Tips · Answers · Videos. Company ...
- What is spousal rollover? definition and meaning
spousal rollover. spousal remainder trust · spousal stripping. Definition. The transfer of qualified retirement plan funds from a deceased plan holder to an account ...
- What Is Equity Stripping?
... accomplished, while transferring ownership to someone else is another way, such as by signing the asset over to a spouse — referred to as spousal stripping.
- Equity Stripping - See Why An LLC In Nevada Or Elsewhere Is A ...
A letter we received which illustrates the pitfalls of spousal stripping: Can you give me a little advice? A quitclaim deed was signed, signing the house over to my ...