Back up generator has a three prong 240 v. receptacle. Two hots and a ground. I want to plug in a #10 3 wire cord from a transfer switch and power a 120/240 v. panel. Is it OK to use the existing neutral in the panel for 120 v. loads?
Yes, if you’re using an interlock kit to prevent back-feed to the utility. You also have to make sure the 120-240V outlet on the generator is not GFCI protected otherwise it will trip the breaker on the generator as soon as you plug it in.