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We live in Oklahoma. My mother had a living trust, with my son and I on the deed. She passed away last year. Without my knowledge, my son had filed Chapter 13 over a year ago. There is a strong possibility that he may be filing for divorce, and the financial picture is uncertain. He is concerned since his name is on my Mom's property. If he signs a Quitclaim deed, will that prevent any issues with that property. There is no liens on the property.

smithsussane · Posted: Thu Aug 13, 2009 10:50 pm Post subject:

Hi DP!

Welcome to forums!

If your son's creditors come to know that he had transferred the property to you just to save it from liens, then the lenders may penalize him. In my opinion, he should first consult an attorney and take his opinion before transferring the property to you.

Feel free to ask if you've further queries.

Sussane

jheard · Posted: Tue Aug 18, 2009 2:13 pm Post subject:

His name is not on the property. The property is held by the trust. Your son is merely a beneficary in the trust with a benefical interest in the property. His creditors can come after his beneficial interest, but that will not affect title to the property.

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