Posted on: 07th Apr, 2009 06:49 am
my parents are getting divorced. they are signing the house over to me. unfortunately, it is not a friendly divorce. i live with my mother & my father and i do not get along at all. they have the same lawyer. the lawyer is advising us to do a quit claim deed vs a warranty deed. the house is free of liens, however, my father has other property in his name only, that has liens against them. if we do the quit claim deed, can i be held responsible for these liens?
If someone has already placed a lien on your property, quit claiming the property to a famly member will not help you out. I'm afraid that option is probably not a good one for you.
In many states, creditors are given the right to look back at the assets that a debtor had and may have transferred and not received any money for the transfer.
You are in a tough situation and I am sorry for the troubles you have been going through.
In many states, creditors are given the right to look back at the assets that a debtor had and may have transferred and not received any money for the transfer.
You are in a tough situation and I am sorry for the troubles you have been going through.
Hi
Your parents can sign over their interest to you. If your father has liens against other properties, that cannot be transferred to this property. So, you cannot be held responsible for liens against the properties which you do not own. However, if the title to the property they are signing over to you is free and clear, you should use a warranty deed as it is the safest way of transferring a real estate property.
Your parents can sign over their interest to you. If your father has liens against other properties, that cannot be transferred to this property. So, you cannot be held responsible for liens against the properties which you do not own. However, if the title to the property they are signing over to you is free and clear, you should use a warranty deed as it is the safest way of transferring a real estate property.
two divorcing people using the same lawyer? how can that lawyer be objective? wow.
savior makes sense in suggesting a warranty deed, especially given the clear conflict of interest on the part of their lawyer.
savior makes sense in suggesting a warranty deed, especially given the clear conflict of interest on the part of their lawyer.
