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Can my corporation, buy my house, will the bank give my corporation a mortgage to buy my home?

April 26, 2017Bank businesses buy corporation Home House local mortgage toronto

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Can my corporation, buy my house, will the bank give my corporation a mortgage to buy my home?

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One of the reasons we form corporations is to shield our personal assists from our corporate assists. If your corporation was able to purchase your house, and lease it back to you, if the corporation was in trouble, the creditors or court could take the house. Not a good idea!