Posted on: 20th Jul, 2011 02:02 pm
I live in CO and lost a civil case in which the other party was granted a judgement. They have liened the home that my family and I live in. If I file a quit claim and release my interest in the property to my wife will that strip the lein? I have been told that it would be considered a fraudulent conveyance, but if it goes unchallenged for a number of years that the lien holder may lose thier right to the lein. Is this aviable solution?
Hi Trailmunky,
Though you transfer your property to your wife, the lien won't be stripped off. The line will remain on the property and when you sell it off, you will have to pay off the lien. As far as the second query is concerned, it will be better to contact an attorney and take his opinion in this regard.
Thanks
Though you transfer your property to your wife, the lien won't be stripped off. The line will remain on the property and when you sell it off, you will have to pay off the lien. As far as the second query is concerned, it will be better to contact an attorney and take his opinion in this regard.
Thanks