May Igive my sister my half of my father’s house is there is a lien against it?
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May Igive my sister my half of my father’s house is there is a lien against it?
A 3rd party bought my debt from a bank 5 years ago. I paid monthly for 2 years. They said that I broke our contract, so they had my wages garnished 3 years ago. They are saying I owe $15,000 on a debt of $7,130 after paying on it 5 years. They have put a lien against me. My father died and my sister and I are in the process of selling his house. They have put a lien against it. Is it possible for me to just transfer my half or give it to her so my name will be off of it? Or could I sell it to her for $10 in a quickclaim deed or something to that effect?
Asked on July 30, 2011 Missouri
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
If you have an ownership interest in a piece of real property that has a lien recorded against it as a result of a judgment against you, you can transfer your ownership interests in it to your sister by way of a quit claim or grant deed.
However, your sister will take your ownership interests in this property subject to the recorded abstract of judgment against you recorded by your judgment creditor. Meaning, if your sister later sells her interests in the house you once had an interest in and the sale goes through an established escrow, the amount that your sister would receive form the buyer would be reduced by the amount of the recorded lien on the property plus accured interest.
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
If you have an ownership interest in a piece of real property that has a lien recorded against it as a result of a judgment against you, you can transfer your ownership interests in it to your sister by way of a quit claim or grant deed.
However, your sister will take your ownership interests in this property subject to the recorded abstract of judgment against you recorded by your judgment creditor. Meaning, if your sister later sells her interests in the house you once had an interest in and the sale goes through an established escrow, the amount that your sister would receive form the buyer would be reduced by the amount of the recorded lien on the property plus accured interest.
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