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shuiyuan · Joined: 28 Dec 2008 Posts: 1 1.76 Dollars($)

my parents are buying a house in southern California with 20% down. They want put their names and my name as Joint Tenancy on the deed, but i got an accident in 7 months ago was my fault and i didn't have insurance. my question is if the people from the accident starting sue me in next few months and i am on the deed will i make my parents lose their house because i don't have job or money to pay their damages of their cars and medicals.
is there anyway that i can avoid that? or i can't be on the deed at all?
i know i am bad kid but i really don't want their property gets take away or have a lien because my fault.
thanks for reading.

smithsussane · Posted: Sun Dec 28, 2008 7:14 pm Post subject:

Hi shuiyuan!

Welcome to forums!

If you have a property in your name and if a judgment passes against you, the creditors will have a right to place lien on your property. However, if you can pay off the creditors, then they will not place a lien on the property.

In my opinion, you should wait till the judgment passes. If everything goes in your favor, then you can add your name to the property deed.

Feel free to ask if you have further queries.

Sussane

Posted: Sun Dec 28, 2008 7:49 pm Post subject:

thanks for you reply.
i mean i am the one of the Joint Tenancy on the property, and my parents pays the down payment and future monthly payments, if have judgment against me, the creditor still can put it on a lien on the property even are 3 people on the deed?

Posted: Sun Dec 28, 2008 11:24 pm Post subject:

Yes, liens can still be placed on the property as you will be one of the owners of the property.

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if i have a lawsuit,what if my name is on the deed?plz read