spousal stripping

Definition

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.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
spousal rollover spouse