Legal Question in Real Estate Law in Virginia
risk of multiple names on Real Property
If I put my children's names on my real estate deed and they are sued for some reason, can I lose my real estate?
Asked on 10/24/06, 9:36 pm
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Re: risk of multiple names on Real Property
If one or more of your hopefully not too irresponsible children is on the deed as a tenant in common and a judgment creditor is subsequently awarded a judgment against one or more of them, the property could then be encumbered with a lien by the judgment creditor and procedures then undertaken through the court to have it sold at a sheriff's sale--or something
comparable.
Answered on 10/24/06, 10:54 pm
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