Posted on: 17th Feb, 2011 08:59 pm
I live in Missouri and because of my health and oweing my daughter a lot of money, I quitclaim deeded my home to her. I had credit card debts at the time and now they are coming after me. Can the debtors go after my daughter now? Can she quitclaim deed the property back to me, so I can sell and repay my debts? Would this be the best solution here?
I cannot work and selling the property is the only way I can repay my debts. I just want to protect my daughter from being sued. Thank you
I cannot work and selling the property is the only way I can repay my debts. I just want to protect my daughter from being sued. Thank you
Welcome rcrowell,
As the credit cards are solely in your name, your creditors won't be able to go after your daughter. It will be your daughter's discretion whether or not she will quitclaim the property to you so that you can sell it off to repay the debts. You can go for the option of credit card debt settlement in order to pay off the debts.
As the credit cards are solely in your name, your creditors won't be able to go after your daughter. It will be your daughter's discretion whether or not she will quitclaim the property to you so that you can sell it off to repay the debts. You can go for the option of credit card debt settlement in order to pay off the debts.
Can one divorced spouse quit claim to the mortgage holder (bank), without the acceptance (signature) of the other spouse?
Welcome Buffy,
If the other spouse is one of the owners of the property, then his signature is required to transfer the deed.
If the other spouse is one of the owners of the property, then his signature is required to transfer the deed.