Offshore trust for home with mortgage?

What is the name of your state (only U.S. law)? SC

Can I put my home into an offshore trust (for asset protection) even though there is a mortgage on my home? If so, how? If not, what would be a way to provide asset protection for my home given there's a mortgage on it, besides an umbrella insurance policy?

Thank you in advance!

Should this be in the Real Estate forum perhaps?

What is your purpose for "asset protection for my home"? Why do you need it? Normally, asset protection is provided by making timely payments to the mortgage company.

The trust would have to assume the mortgage (or financing) otherwise transfer of title would trigger bank to pull loan in and demand full payment.

Riiiiiight...

Like my post said, I am looking to put my home into an offshore trust for asset protection. It has nothing to do with paying my mortgage or tax purposes. I don't think anyone really needs to explain why their assets should be protected.

I guess what it boils down to is: I own my home but there is a mortgage (lien) on it. Can I transfer it to an offshore trust, leaving the lender's lien in tact, but placing the asset out of reach of any other entity?

hondafan,
Why would you want to do it? Call your mortgage company and ask them. You sound like there is something going on that needs to be addressed, what is it? Why are you trying to shelter your home? What is the advantage that you are trying to produce?

Most likely you can't do what you are asking. Otherwise everyone with unpaid debts/obligations would be trying the same thing.

hondafan78 said:

I guess what it boils down to is: I own my home but there is a mortgage (lien) on it. Can I transfer it to an offshore trust, leaving the lender's lien in tact, but placing the asset out of reach of any other entity?

Click to expand...

The short and long answer is no. Transfer will revoke the lenders lein and make note balance of note due immediately.