Legal Question in Real Estate Law in California
I'm in the middle of a divorce I have alot of medical problems I grant deed my half interest to my 2 daughter would I be in contempt of the law or in court for doing this. The title on the home is held joint tenacy. Thank you Teresa
2 Answers from Attorneys
You would create so many tax and legal issues for yourself and your daughters it would be impossible even to begin to explain them here. The simple answer, though, is if you think the law makes it that easy to put your assets out of reach of creditors, you are very very wrong. There are various things you can do to limit the impact of long term medical problems on your assets, but they require careful professional planning or they will almost certainly backfire very badly. On top of that, until you are divorced, any transfer of assets without court approval is contempt of court.
I would also add that you are subject to the automatic temporary restraining orders (ATRO) during the pendency of your divorce. Those orders are on the back of the summons that you either served or were served. They basically tell you that you are not allowed to transfer property without permission of the court.