Posted on: 08th Apr, 2010 03:57 pm
In order to get a loan on a parcel of land a number of years ago my mother asked me to be on the mortgage with her and I am on the title of the property. Since then my husband became ill and passed away and his illness has left me with credit card debt. I intend to pay the debts but it'll take some time. I am concerned about creditors putting a lien on what is really my mothers property because of me. I am thinking of taking my name off the title and quit claiming to my family trust with my mother. That would keep the title in her name with rights of survivor to the family trust. Does this protect her property from a lien? This is in California.
Hi Skipper!
Welcome to forums!
As the creditors have not yet taken any legal actions, you can transfer the property to your mother's trust. If you do not have your name on the property deed, then the creditors will not be able to place a lien on it.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As the creditors have not yet taken any legal actions, you can transfer the property to your mother's trust. If you do not have your name on the property deed, then the creditors will not be able to place a lien on it.
Feel free to ask if you've further queries.
Sussane