Legal Question in Credit and Debt Law in New York

I own a home. Mortgage is solely in my name. Deed is in my name and my partners. He is in collections with creditors and the IRS. I suggest we take his name off the house to protect me. This is my question. As far as the deed goes, while his name is on it do they see it as potential income. Take his name off and they will no longer have anything to hold as "collateral" and will use other means to collect perhaps seizing all the property contents within my dwelling. Who owns it will be of no consequence since it's been his legal address since 2005. Is it better to take his name off or leave it one?


Asked on 8/26/09, 4:38 pm

1 Answer from Attorneys
Locksley Wade Law Office of Locksley O. Wade

The IRS can put a lien on his/her share of the sales proceeds of property in the event that there is a sale. As to personal property in the dwelling, the IRS will have to clearly identify personal property through a court proceeding before it can be seized.

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Answered on 9/03/09, 10:20 am


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