Posted on: 26th Jun, 2008 03:46 pm
my son was involved in a business that due to the bad economy was taken back by his lendor. the issue went to court and the lendor was awarded x amount of monies that my son needs to pay. he however has houses and does not want a lean to be put on them. if a quitclaim deed is done on the houses can a lean still be put on them. and also is there any negative effect on either him or the person who he gave the houses to???
If your son quitclaims the properties just to avoid the lien, it may be considered as fraudulent transfer and in that case the lender can file a lawsuit against him. More than the person (who gets the properties after quitclaim) your son with be affected. So it's better to pay the amount awarded by the court to the lender.
In some states there are homestead exemptions that may protect him.
The reality is he needs to deal with the issue. If they put a lien on the home it will be there until he does.
Brian
The reality is he needs to deal with the issue. If they put a lien on the home it will be there until he does.
Brian
i think your son can not do this. this is a obvious fraudulence. everyone can understand it. so, please don't use a quit claim deed to avoid the lien.