Legal Question in Civil Litigation in Pennsylvania
Property Acquisition
My fiance is being sued by an individual who he was involved in a fight with. There were no criminal charges pressed. He ownes 4 properties (they are all morgaged by the bank). What can this individual "get" from him since he does not actually "own" these properties? Should he be concerned or try to get the properties out of his name? Please help.
2 Answers from Attorneys
Re: Property Acquisition
If the other side wins the lawsuit they could get a judgment against your fiance and put a judgment lien on the properties. Even though the properties may not be worth anything now (no equity) chances are they will be worth something in the future. Basically the other side will just wait until your fiance has assets and then come to collect.
For example, if they won and put a judgment lien on the properties, when you fiance sells one of the properties any equity your fiance might have gotten from the sale of the property will go to satisfy the judgment. That is, your fiance will have to pay them not now, but later.
You should talk to an attorney because if you don't respond to the lawsuit you could lose your rights. If you already have an attorney discuss this situation with them.
Re: Property Acquisition
I always say the bank owns my house and just lets me live there, but the fact is that the owner is the name in which the property is titled--which sounds like your fiance. Transferring title to the properties after he has been sued could be considered fraudulent and be nullified.
This is general information for discussion purposes and is not legal advice. You fiance should consult with an attorney to obtain legal advice.