Posted on: 17th May, 2008 04:12 pm
My husband has potentially terminal illness. He is awaiting "possible" liver transplant. Current hospital bills & Potential transplant bills are very expensive. We are trying to make sure medical creditors cannot come after me or the house. Is the quick claim deed the right way to go?
Hi rnlisag,
Welcome to the forum.
Whom do you want to quitclaim? Who is the owner of the property? If your husband is the owner of the house then he can surely quitclaim to you. Medical bills are unsecured debt. So you may need not to transfer the deed. You can consult with an attorney to know whether you need to transfer the property to your name.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
Whom do you want to quitclaim? Who is the owner of the property? If your husband is the owner of the house then he can surely quitclaim to you. Medical bills are unsecured debt. So you may need not to transfer the deed. You can consult with an attorney to know whether you need to transfer the property to your name.
Feel free to ask if you have any further questions.
Best of luck,
Larry
I agree with Larry you should consult with an attorney you are moving into estate matters which can be complex.
a quitclaim deed would remove the property from your husband's estate and prevent creditors from attaching it. Beware of possible fraudulent transfer.
If your husband is terminal, why are you spending money you cannot afford on a transplant?
If your husband is terminal, why are you spending money you cannot afford on a transplant?
jheard, you missed all the "potentials" in the post! boy, if i ever expected someone to read all the lines (and in-between as well), it would be a lawyer!
i concur with you, however, in the need to be cognizant of the potential that creditors would view the transfer as fraudulent.
i concur with you, however, in the need to be cognizant of the potential that creditors would view the transfer as fraudulent.
Will a quitclaim deed protect creditors from putting a lien on a home if several months of a motorcycle note are not paid?
sandy, before a lien would be placed, a court would need to issue a judgment against you. further, the first piece of collateral is the motorcycle itself, which the lender would try to repossess in order to solve the loan payment problems.
the quit claim you mention might end up being considered fraudulent if you ended up in court about this thing.
the quit claim you mention might end up being considered fraudulent if you ended up in court about this thing.