Legal Question in Real Estate Law in California
Selling my property
I am selling my property in california and have an old judgement in ohio and was wondering if this would affect the sale. I do not have any liens from the judgement and it did not show up when i purchased the property. Also how would i get my name off the title if it were to hinder the close of the escrow.
thank you
1 Answer from Attorneys
Re: Selling my property
An old judgment in Ohio is unlikely to have an effect on the close of sale of real property in California if there has been no enforcement action in California. If a preliminary title report was obtained in connection with your pending sale and it didn't reflect the Ohio judgment, the Ohio judgment is unlikely (but not impossible) to crop up prior to close of escrow.
If you are under contract and/or in escrow, I think it would be foolish to try to take yourself off title before your sale closes. Everyone involved would want to know the reason.
Finally, let me caution you abount the Uniform Fraudulent Transfers Act, or UFTA. Every state has this or a similar law which provides that a transfer of property done for the purpose of, or having as its effect to, "hinder, defraud or delay" creditors or potential creditors of the transferor, is fraudulent and can be set aside by a court. However, if the property is sold for a fair price the transaction will not be fraudulent because the creditors remain equally or better protected.