Legal Question in Real Estate Law in California
Quit Claim and being sued
I am possibly going to get sued. I want to protect my house from claims against it. I know that the debts and liens against the house, now existing, will always remain. If I quit claim the house to my aunt, who lives in the house with me, will I protect myself from new liens on the property, because it no longer belongs to me?
4 Answers from Attorneys
Re: Quit Claim and being sued
First, it is important to have more information. The transfer of your property may not be considered a fraudulent transfer depending on the facts, timing of transfer, etc., etc. There are other protections you may take advantage of. Please call to discuss. Don Holben 800-685-6950.
Re: Quit Claim and being sued
Such would be a fraudlulent conveyance and it will be set asside. Why are you being sued? You must answer once served with a summons. Call me directly at (619) 222-3504.
Re: Quit Claim and being sued
Your proposed transfer to your aunt is likely to be voided as made in defraud of creditors. Especially if it is just a quitclaim without consideration. If she actually bought it from you for FMV, it might have a better chance to stand up. If you have time, you might consider selling the house and renting somewhere until the matter is resolved (assuming it's a big enough lawsuit). They can go after your sale proceeds, though. You might want to park them offshore.
Re: Quit Claim and being sued
Your property transfer may be avoided as a fraudulent transfer. Ther are many asset protection strategies that may help. Please call me at (818) 991-6664 for a free consultation.
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