Posted on: 08th Sep, 2007 09:00 pm
my husband may have to declare bankruptcy in a few months and is in a legal case where he is being sued.. can we quick claim the title to my name only and protect it from bankruptcy or in case they try to put a lein on the house? thanks for the info.
Hi Ljr,
Welcome to the forum.
Your husband can quitclaim the property in your name. But it will not prove much useful as in that case, you may be sued under State Fraudulent Transfer laws. You may be sued up to 4 years after transfer of the property is done.
Welcome to the forum.
Your husband can quitclaim the property in your name. But it will not prove much useful as in that case, you may be sued under State Fraudulent Transfer laws. You may be sued up to 4 years after transfer of the property is done.
can i be sued if this quit claim is preparation for a divorce?
Thanks!
Thanks!
"can i be sued if this quit claim is preparation for a divorce?
Thanks!"
When divorce proceedings starts, court decides how the property will be divided and the divorce judgment states the details of property division.
But you should contact an attorney to know if it would be allowed to quit claim the house and not considered as fraudulent transfer.
It is likely though that attorney would also agree that the transfer would be considered as fraudulent even if it is in preparation for the divorce.
Thanks!"
When divorce proceedings starts, court decides how the property will be divided and the divorce judgment states the details of property division.
But you should contact an attorney to know if it would be allowed to quit claim the house and not considered as fraudulent transfer.
It is likely though that attorney would also agree that the transfer would be considered as fraudulent even if it is in preparation for the divorce.