Posted on: 05th Oct, 2010 10:38 am
My ex husband left me lifetime rights to home and some property..I am in financial trouble. Can creaditors file legal action of some sort and take this property ?
Hi horse2marian,
Though you've lifetime rights to stay in the property, someone else is the owner of the property. In such a situation, your lender will not be able to place a lien on that property. If you've any other property, then the lender can come after those assets to recover their dues.
Thanks
Though you've lifetime rights to stay in the property, someone else is the owner of the property. In such a situation, your lender will not be able to place a lien on that property. If you've any other property, then the lender can come after those assets to recover their dues.
Thanks
if I have to file bankruptcy and I have lifetime rights on property .(
The property is paid off) can a lein be put on by the creditors and can the creditors sell this property? thanks
The property is paid off) can a lein be put on by the creditors and can the creditors sell this property? thanks
Hi marian,
You have lifetime rights to stay in the property but you're not the owner of the property. In that case, the creditors will not be able to come after the property and place a lien on it.
Thanks
You have lifetime rights to stay in the property but you're not the owner of the property. In that case, the creditors will not be able to come after the property and place a lien on it.
Thanks
who pays the taxes
Hi jerry,
As far as I know, the owner of the property pays for the property taxes.
Thanks
As far as I know, the owner of the property pays for the property taxes.
Thanks