Posted on: 28th Jan, 2009 04:11 pm
will a quit claim deed protect my house in the event of a law suit if i sign it over to another person
Hi sue!
Welcome to forums!
If you have quitclaimed the property before the lawsuit has been filed, then there are chances that the house will be protected from your creditors but if the lawsuit has been already filed and you are awaiting judgment, then signing a quitclaim deed will be considered as a fraudulent one and you can be penalized for it.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
If you have quitclaimed the property before the lawsuit has been filed, then there are chances that the house will be protected from your creditors but if the lawsuit has been already filed and you are awaiting judgment, then signing a quitclaim deed will be considered as a fraudulent one and you can be penalized for it.
Feel free to ask if you have further queries.
Sussane