Legal Question in Real Estate Law in Florida
Home ownership title question
I am worried that a friend, who is using drugs, might ''hock'' his home for drug money. Is there a way to title the home to protect him from himself? He is willing to do so. He does not work and has no insurance on the house. It is the only thing he owns.
Asked on 3/03/09, 3:12 pm
1 Answer from Attorneys
Brent Rose
The Orsini & Rose Law Firm
Re: Home ownership title question
If there is no mortgage, he can quitclaim the house to you (or to the two of you as owners together). That way, for the house to be transferred to another party, you'd have to sign off.
Check with an attorney first, though, and explain the entire situation. No good deed goes unpunished, and you probably don't want to take ownership of a home without insurance.
Answered on 3/03/09, 3:51 pm