transfer to huf for protection about personal guarantees

Dear All,

One of my near relations is a director in the company where I work. He has given personal guarantees to banks for loan given to our company by them. After giving the guarantee, he acquired some personal properties in Mumbai which is dear to him and he does not want those properties to be taken away by creditors incase of company's default in paying the loan. How can he protect his properties purchased after giving those guarantees? can he transfer those properties to his Huf? Or his father's HUf? can he create a trust and transfer to them? kindly advise. Thanks


In your case guarantors can protect his properties. feel free to contact me for further course of action.




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