Posted on: 26th Mar, 2010 11:31 am
My sister and I own a farm and we quick claimed it to her 5 year old son, Dan, because I was going through bankruptcy and I didn't want her to lose her half of the farm. Bankruptcy is completed.
We now have the farm sold but it is in Dan's name. How do we get it back so we can sell it. It will sell for $42,000. We are desperate for the money as I haven't work for a year and owe back taxes of $15,000.
We now have the farm sold but it is in Dan's name. How do we get it back so we can sell it. It will sell for $42,000. We are desperate for the money as I haven't work for a year and owe back taxes of $15,000.
Hi khammond!
Welcome to forums!
It is quite surprising to me that your attorney allowed you to transfer the property to a minor. You will have to ask Dan to transfer the property to you by signing a quit claim deed. However, as Dan is still a minor, I would suggest you to have a word with your attorney and then go ahead with the signing of the property deed.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It is quite surprising to me that your attorney allowed you to transfer the property to a minor. You will have to ask Dan to transfer the property to you by signing a quit claim deed. However, as Dan is still a minor, I would suggest you to have a word with your attorney and then go ahead with the signing of the property deed.
Feel free to ask if you've further queries.
Sussane
You cannot transfer property to a minor. What you did was a "fraudulent transfer".
