Legal Question in Real Estate Law in Georgia
Put my homein my son's name
I want to put my home in my son's name and not sure how that would affect him.would he have to pay some kind of tax? I have a lot of finance problems and don't want to lose my home and the only way out I can see is put it in his name so if i had to let something go back they could not put a judgement against me.Is this possible,and how long does it have to be in his name before i could do such a thing as letting a motor home go back to the bank.i cannot pay for it any longer.Please I need help.
1 Answer from Attorneys
Re: Put my homein my son's name
Your post is vague, but it appears you are asking how to commit fraud. Transferring or hiding your assets to avoid debts is known as a "fraudulent transfer" and will subject both you and your son to a lawsuit by creditors. That is not an appropriate way to resolve your financial troubles.
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