Legal Question in Real Estate Law in Ohio
property ownership
if i sign over my home to my children,all over 21 and married,and one would declare bankruptcy. how would this effect the property?
Asked on 7/15/09, 1:47 pm
1 Answer from Attorneys
Elizabeth Schmitz
Elizabeth S. Schmitz Attorney at Law
Re: property ownership
If your children own the home or a part interest in the home and one of them goes through bankruptcy, has a judgment against them or another kind of lien the house can be required to be sold.
You really should talk to an attorney to determine what is the best course of action to accomplish what you want to accomplish.
Answered on 7/15/09, 4:00 pm
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