Posted on: 03rd Aug, 2010 07:40 am
My wife had an auto accident and the injured party is sueing her for $$$$$. Our home is free and clear in a community property state. Can we quitclaim the home to our son and protect it from judgement if they get one? Thank you.
Welcome shyman,
You and your wife can transfer the property to your son in order to save it from judgment. But such a transfer can be considered fraudulent by the court and you can be penalized for the same.
You and your wife can transfer the property to your son in order to save it from judgment. But such a transfer can be considered fraudulent by the court and you can be penalized for the same.