Can we lose our house if one of the co-owner’s get a judgment awarded against them?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can we lose our house if one of the co-owner’s get a judgment awarded against them?
My father co-signed for mine and my husband’s home. He has recently been in a car accident in a company van. They are suing the company but if they sue him, could they try to take our house even though he owns 1/3 of it?
Asked on August 25, 2011 Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You are very wise to try and think things through here. If there is a judgement rendered against an owner of real property, the judgement creditor can file a lien against the real property. Whether or not they can force a sale of the property remains to be seen and is governed by state law. But if your Father was in a company van - which I am taking to mean he was involved in the accident during the course of his employment - then his employers insurance should cover him (indemnify him) for injuries sustained by the other driver if he is found to be negligent even if he is personally named. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.