Posted on: 14th Sep, 2009 08:18 am
Hello Josh, I am in Michigan. My husband and I quit claimed our house (which is paid for) to our children - both of which are grown. The problem is that my son was in a car accident and may be sued. Are we at risk for losing this property to pay a lawsuit? The property was quit-claimed to first ourselves and then to each of our two children. Please help!
There is a good possibility this can happen
Please check with yoru attorney to see how you cna get out of this situation
Please check with yoru attorney to see how you cna get out of this situation
Hi roberts,
It will depend upon the type of judgment that will be passed against your son. If the judgment mentions paying for the lawsuit, then you will have to pay it off. If you are unable to pay for the lawsuit, then court can place a lien on your property.
Thanks
It will depend upon the type of judgment that will be passed against your son. If the judgment mentions paying for the lawsuit, then you will have to pay it off. If you are unable to pay for the lawsuit, then court can place a lien on your property.
Thanks