Legal Question in Civil Litigation in Georgia
Safeguarding Assets from adverse civil suit
I would like to consult with an attorney to determine what steps I can take to protect a home which is paid for from a possible adverse decision in a civil suit which I can't afford to defend. The home is in the Atlanta metro area. I have not been served in the civil suit at present.
2 Answers from Attorneys
Re: Safeguarding Assets from adverse civil suit
As you said, you need to see a lawyer and not use a message board. However, consider that transferring assets to avoid creditors is generally referred to as a fraudulent transfer. If you own the home free and clear, you have assets for a judgment.
Re: Safeguarding Assets from adverse civil suit
In addition to what Scott said, the evidence of the fraudulent nature of the transfer would be strengthened by the fact that the suit has already been filed. Get with an attorney as soon as possible to see if you can defend the suit. If you have good defenses to the claims, it might make more sense to borrow against the home or some other assets to defend the case than risk losing everything by going into default.
Feel free to contact me if you would like to discuss this situation further.
The foregoing is general information only, not specific legal advice. No attorney/client relationship has been created or should be implied.
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