Posted on: 16th Mar, 2009 07:17 am
My wife and I are on title to our home and also on the mortgage - if I quit claim my interest to her, does this protect the house if I, not her is sued and a judgement is place on me? Will it protect the house if the party that receives a judgement and trys and put a lien on house?
Thanks
Thanks
Hi Charles,
If you quitclaim when you are already behind on payment and creditors are coming after you or a judgment has been placed, then the deed can be considered invalid. Any such transfer would be looked at as a fraudulent conveyance and the creditors will have the right to to sue you and reverse the deed.
If you quitclaim when you are already behind on payment and creditors are coming after you or a judgment has been placed, then the deed can be considered invalid. Any such transfer would be looked at as a fraudulent conveyance and the creditors will have the right to to sue you and reverse the deed.