Legal Question in Wills and Trusts in California

I have two properties under my name, one of the properties I am renting to my brother. He was unable to make the payments and was falling behind. The property was already on short sale. To my understanding I will be reliable of the difference ex. booght property at $360,000.00, sold property on short sale at $200,000.00 I will be responsible for $160,000.00 plus all behind payments. Is there a way that I can protect my other assets, meaning if I owe this money which I will be paying back I do not want a lien on my other properties. Please advise.


Asked on 4/23/10, 3:48 pm

1 Answer from Attorneys
Jonathan Reich De Castro, West, Chodorow, Glickfeld & Nass, Inc.

In order to give a useful answer to your question, one would need to sit down with you and review the specifice of each of your assets. Under the facts outlined by you, you have to be very careful not to make a transfer that could be determined to be a transfer in fraud of creditors.

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Answered on 4/28/10, 4:22 pm


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