Re: Judgement

Posted by LadynRed (199.91.33.254) on May 03, 2004 at 14:14:17:

In Reply to: Judgement posted by sdgone on May 02, 2004 at 21:43:56:

Getting the house out of her name if a judgment is imminent could be dangerous. It could easily be seen as a fraudulent transfer and the courts could 'undo' it rather easily.

How is the home deeded ? If its tenancy by entirety, then it MAY be protected against the debts of just one spouse.

Even if you do have 20K in equity, you spouse's 'interest' in it would only be, at best, 1/2 of that. A judgment creditor could place a lien on the property, but its very unlikey they would attempt to seize it considering the exemption limit.

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