Legal Question in Real Estate Law in Florida
Quit Claim Deeds
A couple holds the mortgage on a piece of property and they want to quit claim the property to their son who is 19 years old. If their son gets into an acccident can some one come after the property as an asset of the 19 year old and the couple could loose their house?
If the couple is quit claiming the house to avoid a lien being out on it, it that possible or since they are the mortgage holders thay can still put a lien on the property?
1 Answer from Attorneys
Protecting Land from Creditors
FACTS: Couple holds mortgage on home; want to quit claim to son to avoid liens.
Q. If son has debts, can the home be attached and the couple lose their home? Is it possible to quit claim the home to avoid a lien? [YES BUT WITH EXPENSE IN LAND TRUST]
Since couple hold mortgage, can creditors still put a lien on the property?
A.If you or your son own the home and it is a homestead where you/he reside, then the only one who can put a lien on your homestead is the owner. A homestead is exempt from the claims of creditors except when the owner[s] lien[s] the home.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
