Legal Question in Credit and Debt Law in Florida

property protection questions

I've been served a summons to appear in court to deal with a past credit card debt. My questions are: Me AND my wife have aquired all of our personal property together, using monies made by the both of us as a married couple. Our 3 vehicles, 1 boat, 1 motorcycle, 1 enclosed trailer are titled as ''or'' instead of ''and''. Even though it is listed as ''or'', it has always been presumed that we have held the property as TBE - It is as much hers as it is mine. If we were to change the titles from ''or'' to ''and'', would that be considered a fraudulent conveyance to shield assets from creditor? Also, the Florida Supreme Court makes the presumption that jointly owned property purchased and owned by the married couple is considered to be owned as TBE. Is that also true?


Asked on 12/19/07, 10:24 am

1 Answer from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: property protection questions

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Owning property jointly will not shield it entirely from creditors. A court may make you sell your interest in order to satisfy creditors claims. If not, a creditor could never collect on any judgment and the entire credit system in this State would collapse. I suggest that you consider making repayment arrangements. If you can own a boat, a motorcycle, and an enclosed trailer, you obviously can afford to make some payments for your debt and it will not sit lightly with a court. Any transfer of title now would be seen as fraudulent and set aside by most courts.

Scott R. Jay, Esq.

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Answered on 12/19/07, 11:42 am


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