Judgement liens on real estate
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Posted by Mike
(172.174.174.155) on July 09, 2003 at 10:03:14:
I was sued by a Credit Card company and they won and I currently have a judgement against me in the state I'm currently living in.
I have nothing in this state they can go after. In another state however I am part owner of a house I inherited. The kicker is though, when I inherited it, it was put in a life estate for the benefit of someone else until they die.
After they die, I then inherit my part of it, and an equal part of their part as well.
I'm not sure how property like that is titled but I think it's in my and the others name, but with this life estate condition attached to it. What I was wondering was if this creditor finds out about this property and if they then proceed with a suit in that state, is a property like that subject to
a judgement lien for debts incurred just by me? This property is not located in a community property state and there are 4 other owners besides myself, in addition to the party who has a life interest in the property.
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