Legal Question in Credit and Debt Law in California
Attachment of Property/Accounts
My mother has my sister and I as co-owners of her house, automobile, checking and bank accounts. My question is this. Since my sister is in debt and having difficulty in making payments and creditors are sending letters of demand, can these creditors of hers attach the house, automobile, checking and bank accounts which show her as co-owner with our mother?
Thank You
3 Answers from Attorneys
Re: Attachment of Property/Accounts
Yup.
There are much better ways to do what your mother is attempting to do, with trusts, limited partnerships, or powers of attorney, without putting her whole estate in jeopardy.
Re: Attachment of Property/Accounts
Yes they can. If they file a lawsuit against her, they can attach a liz pendance against the property, which would block any transfer.
You should have your sister's name removed from these assets as quickly as you can. Then, see an attorney to set up a trust that can still accomplish what your mother wants to do, but with protection from creditors.
Re: Attachment of Property/Accounts
They can if they get a judgment against her. Parents lose their houses all the time this way.
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