If one is in a lot of debt, lets say a couple of million and the bank were calling in the security on the loans, mortgages and personal guarantees etc how could one protect one's assets from the banks via a trust.
For an ordinary property in my name, the bank would have a mortgage on it so I couldn't put that in a trust could I?
But if my properties were without a mortgage or held in security but instead I'd given only personal guarantees could I then put the property in a trust? Any reason why that cannot be done?
Would a bank loan money to purchase property without having a mortgage and would they rely only on personal guarantee?
Who the person who allowed such a facilty to a borrower not need to be fired for stupidy if the last option is true. Could the shareholders of the bank sue the bank board for this carry on?
For an ordinary property in my name, the bank would have a mortgage on it so I couldn't put that in a trust could I?
But if my properties were without a mortgage or held in security but instead I'd given only personal guarantees could I then put the property in a trust? Any reason why that cannot be done?
Would a bank loan money to purchase property without having a mortgage and would they rely only on personal guarantee?
Who the person who allowed such a facilty to a borrower not need to be fired for stupidy if the last option is true. Could the shareholders of the bank sue the bank board for this carry on?