Legal Question in Real Estate Law in California

What you are describing is a fraudulent transfer. A transfer to put assets out of the reach of creditors leaving yourself with no assets to satisfy judgments is illegal, and participating in it knowing its purpose would be illegal for you to do. It would be voided by either the state or bankruptcy court, and your participation in it could subject you to liability or at a minimum a lot of attorneys fees. If he is going to go bankrupt he should do it sooner rather than later. Deeding the property over to you, whether by quitclaim or grant deed, is only making a bad situation worse for both of you.

I agree completely with Mr. McCormick. If I properly recall previous posts by someone who may be you, this is a situation where you have been treated unfairly, probably defrauded, by your co-owner, and you should be seeking relief for yourself via partition proceedings or dissolution or partnership or whatever, not subjecting yourself to further grief by submitting to the co-owner's idea for a fraudulent transfer which will just end up with both of you being tarred and feathered by the creditors. You need to be the adversary, not the accomplice.