Legal Question in Personal Injury in Pennsylvania
If I have to face multiple civil suits from individuals in Delaware and I live in PA, what can I do to prevent the loss of my home and property? Can I register my home under my business? Shall I include my brother on the deed?? What can I do??
1 Answer from Attorneys
Hopefully, you are adequately insured against these anticipated claims. Under Pennsylvania Law, property that is titled in both your name and your spouse's name as "tenants by the entirety" is protected from forced sale to satisfy judgements. If the property is not already in your joint names, your are likely too late. Under the Uniform Fraudulent Conveyance Act, Pennsylvania allows creditors to upset transfers of assets that were made after a claim arose, for the purpose of avoiding judgment collection. You can also claim certain exemptions in the judgment collection process and/or file bankruptcy to protect certain assets. Proceed cautiously, because engaging in fraudulent conveyances may cost you the protections of these laws. http://www.assetprotectionbook.com/UdRWQ/ seems to be a good source for further self-education. Wikipedia provides a very basic introduction to the concept under "fraudululent conveyance." But, it could lead one to conclude that the laws against fraudulent conveyance are more limited than they truly are. Consultation with a bankruptcy attorney sooner, rather than later, would also be recommended.