Can my mom transfer a home to me via quitclaim deed and avoid future potential liens from credit card companies?

tacobro · Joined: 27 Aug 2009 Posts: 1 1.34 Dollars($)

Hello. My mom lives in Detroit, MI. I live in San Diego, CA. Over the last few years, her health has been failing and she has fallen behind on some credit card debt that we cannot help pay. She owns her home outright, which is not worth that much (probably $25K). She is worried that credit card companies will attach liens to her home and wishes to transfer the home to me via quitclaim deed now, rather than my inheriting the home after her death. There are currently no liens against the house. My question is: will quitclaiming the deed to me allow her to avoid future potential liens against the property?

smithsussane · Posted: Thu Aug 27, 2009 10:48 pm Post subject:

Hi tacobro!

Welcome to forums!

I hope that the credit card companies have not placed liens on the property. If she owns the property free and clear and transfers it to you now, then the credit card companies will not be able to place a lien on that property in future. This is because you would be the owner of the property then. She can sign a quitclaim deed now and transfer the property to you. You would be responsible to notarize and record the deed in order to complete the transfer of the property.

Feel free to ask if you've further queries.

Sussane

All times are GMT - 7 Hours

Page 1 of 1