Posted on: 20th Jul, 2010 09:58 am
I need your advise, my brother lives in CA and has a home that my dad co signed on. My dad lives in Colorado and is dying of cancer. If my brother defaults on his house, can they take parents home here in Co. to pay the default even after my dad passses away. How do we protect my mom from my brother?
Hi Julio,
The lender can place a lien on the property located in Colorado in order to recover the dues. However, to do this, the lender will have to file a lawsuit against your father in Colorado and get a judgment against him.
If your father wants to save the property, then he can transfer the property to your mother.
Thanks
The lender can place a lien on the property located in Colorado in order to recover the dues. However, to do this, the lender will have to file a lawsuit against your father in Colorado and get a judgment against him.
If your father wants to save the property, then he can transfer the property to your mother.
Thanks