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2006 SESSION

• | print version

HB 1320 Tenants by entireties; protect. against creditors to extend to prop. conveyed to limited liab. com.

Introduced by: Harvey B. Morgan | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Extension of tenants by the entireties protection from creditors. Allows the tenants by the entireties protection against creditors to extend to a conveyance of property to a limited liability company. Current law allows the protection of tenants by the entireties ownership of a husband and wife's principal residence to continue after they convey it to a revocable or irrevocable trust. This amendment extends that protection to conveyance of property to a limited liability company. It also eliminates the requirement that it be a principal residence, and in the case of revocable trusts, that it be conveyed in equal shares.

FULL TEXT

• 01/11/06  House: Prefiled and ordered printed; offered 01/11/06 069283428  pdf

HISTORY

• 01/11/06  House: Prefiled and ordered printed; offered 01/11/06 069283428
• 01/11/06  House: Referred to Committee for Courts of Justice
• 02/15/06  House: Left in Courts of Justice