Posted on: 07th Nov, 2007 01:46 pm
I recently became disabled and have lots of medical bills from complications due to heart surgery, my income has gone from over $75,000/yr to about $9000/year. Some of the my bills are in collection, the only thing I have left is my home, if I were to quit claim to my daughter, would that prevent creditors from placing liens on the property because of my bills? There are no pending suits or anything like that at this point. Is there a better way to protect the property?
can I sell my properties to my minor children or wife and they be free from anything under my name.
Hi riversmom!
Welcome to forums!
You won't be able to sell property to your minor children, but you'll be able to sell your property to your wife. Once the property is not in your name, your creditors won't be able to come after the concerned property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You won't be able to sell property to your minor children, but you'll be able to sell your property to your wife. Once the property is not in your name, your creditors won't be able to come after the concerned property.
Feel free to ask if you've further queries.
Sussane
My mother passed away a year ago My 3 siblings & I have been trying to sell the house. Now my 2 sisters are having a financial disagreement. One sister wants to place a lien on moms house so the other sister won't get monies due whenever the house sells. Won't this also stop the rest of us from getting monies due?
Welcome Guest,
If a lien is placed on the property, then while it is sold off the lien needs to be satisfied first. After that, the others will be able to claim their monies.
If a lien is placed on the property, then while it is sold off the lien needs to be satisfied first. After that, the others will be able to claim their monies.
I have defaulted on a business loan and have never used my house as collateral can the lien holder place a lien on my home? and if they can how long does it take them to do so pls advise thank you ganth
Hi tal,
The lien holder can place a lien on your home in order to recover his dues. However, in order to do so, the lender will have to file a lawsuit at the local court and get a judgment against you.
Thanks
The lien holder can place a lien on your home in order to recover his dues. However, in order to do so, the lender will have to file a lawsuit at the local court and get a judgment against you.
Thanks
Can I do anything to stop the house (prior to any judgement) from being liened for a private student loan?They do not want to work with the unemployed and the house is mortgaged to the hilt!
Welcome bob,
Unless both of you workout a payment plan between yourselves, it will be difficult for you to stop them from placing a lien on your property.
Unless both of you workout a payment plan between yourselves, it will be difficult for you to stop them from placing a lien on your property.
a friend of mine invested in a property i owned which we were going to flip My name was on the deed to bank. Then I gave her another deed of Trust to property 3rd mort. The property was foreclosed on in 2007. now the 3rd holder is sueing me for her portion of the investedment.If awarded a judg.Can she lien proterty I have inherited with my two brothers
Hi mosey,
If the third mortgage is in your name, then the lender has all the rights to come after you to recover the debts after the foreclosure of the property. If the lender gets the judgment, then he can obviously be able to place a lien on the property.
Thanks
If the third mortgage is in your name, then the lender has all the rights to come after you to recover the debts after the foreclosure of the property. If the lender gets the judgment, then he can obviously be able to place a lien on the property.
Thanks
Spouse has significant unsecured credit card debt in her name.. I have no debt and a significant income. Can I have her quit claim her portion of the house to me and protect the home from having a lien placed on it. There is no lien at present.
Hi bigbird!
Welcome to forums!
If there are no liens on the property at present, then you can ask your spouse to transfer the property to you. Once the property is transferred to you, the creditors of your spouse won't be able to place a lien on it.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If there are no liens on the property at present, then you can ask your spouse to transfer the property to you. Once the property is transferred to you, the creditors of your spouse won't be able to place a lien on it.
Feel free to ask if you've further queries.
Sussane
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